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Management expects NFI will deliver Adjusted EBITDA of $145 million to $155 million for Fiscal 2020, which would represent $114 million to $124 million during the second half of 2020.While operations have resumed production, levels are not yet at pre-COVID levels. The New Facility has been syndicated, with the lenders comprised of the five lead banks and six other financial institutions, all of which are lenders under the Revolver.“We are very pleased to announce covenant relief and our new credit facility.

NFI Group Schedules Second Quarter 2020 Results Release Jul 07, 2020 NFI signs onto the POST Promise; committing to workplace safety and health practices … These forward-looking statements reflect management's current expectations regarding future events and financial and operating performance and speak only as of the date of this press release. The replay will also be available on NFI’s web site at www.nfigroup.com.With more than 9,000 team members operating from 50 facilities across ten countries, NFI is a leading independent global bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer® (heavy-duty transit buses), Alexander Dennis Limited (single and double-deck buses), Plaxton (motor coaches), MCI® (motor coaches), ARBOC® (low-floor cutaway and medium-duty buses), and NFI Parts™. The Company's end products are a key driver to enable cities to lower emissions, decrease congestion and drive economic opportunity for less-fortunate members of various communities. All rights reserved. Therefore, they may not be comparable to similar measures presented by other issuers. April 24, 2020 NFI Group.

Stockhouse.com is owned by Stockhouse Publishing Ltd. © 2019 Stockhouse Publishing Ltd. All rights reserved. These factors and other risks and uncertainties are discussed in NFI’s press releases, Annual Information Form and materials filed with the Canadian securities regulatory authorities which are available on SEDAR at Disclosure Filings: To view NFI’s continuous disclosure filings with Canadian securities regulatory authorities, go to NFI's 2019 Environmental Social Governance Report can be accessed on the Company’s website.A conference call for analysts and interested listeners will be held on Thursday, August 6, 2020 at 9:00 a.m. Eastern Time (ET). The words "believes", "anticipates", "plans", "expects", "intends", "projects", "forecasts", "estimates", "may", "will" and similar expressions are intended to identify forward looking statements. Certain statements in this press release are "forward looking statements", which reflect the expectations of management regarding the Company's future growth, liquidity, results of operations, performance and business prospects and opportunities, such as the estimated amount of savings to be generated and the efficiencies to be produced by the implementation of management's "transformational initiative" and management's expectations regarding the dividend rate, leverage reduction or use of the sidecar facility. “As the pandemic began, our priority focused on the safety of our team members, our customers and their essential service riders. NFI common shares are traded on the Toronto Stock Exchange under the symbol NFI. These forward-looking statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Dividends paid from Free Cash Flow are not assured, and the actual amount of dividends received by holders of Shares will depend on, among other things, the Company's financial performance, debt covenants and obligations, working capital requirements and future capital requirements, all of which are susceptible to a number of risks, as described in NFI’s public filings available on SEDAR at www.sedar.com.Certain statements in this press release are “forward-looking statements”, which reflect the expectations of management regarding the Company's future growth, liquidity, results of operations, performance and business prospects, plans and opportunities. Stockhouse.com use cookies on this site. For investor inquiries, please contact: Stephen King, 204.224.6382, Stephen.King@nfigroup.comCopyright CNW Group 2020Get the latest news and updates from Stockhouse on social media Accordingly, Adjusted EBITDA may not be comparable to similar measures presented by other issuers. Please go to the link in the email message to retrieve your password. “Our banking partners have been tremendous supporters of NFI and displayed their confidence in our business, our management team and our long-term strategy throughout this process. Unfortunately, the COVID-19 pandemic has had a dramatic impact on global bus and coach ridership and operators cost structures” said Paul Soubry, President and CEO of NFI. (2) Results noted herein are for the 13-week period ("2020 Q2”) and the 52-week period (“2020 Q2 LTM”) ended June 28, 2020. A reconciliation of net earnings to Adjusted Net Earnings (Loss) is provided under the heading “Reconciliation of Net Earnings to Adjusted Net Earnings (Loss)”.NFI's method of calculating Adjusted EBITDA, ROIC, Free Cash Flow, Adjusted Net Earnings (Loss) and Adjusted Earnings per Share may differ materially from the methods used by other issuers and, accordingly, may not be comparable to similarly titled measures used by other issuers.