FY24 Financial Guidance Update

BLUE BIRD Type C & D School Bus Industry 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 Number of school age children 1995 Historical Registrations 1996 1997 1998 1999 2000 2001 2002 Industry avg size is 30,500 new units annually based on Polk registrations ■ Total fleet of school buses is ~515,000 units and average age is about 10 years. Industry size is driven by: 2003 2004 2005 2006 2007 2008 -Long Term Avg. ('85-'19) 2009 Mean: 30,600 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Age of existing fleet - most states set 15 years as a replacement target Source: R.L. Polk New Registrations, based on Type C/D school buses & non-school buses in US/CAN registered thru Dec. 2023 Average ridership per bus Funding – primarily from property tax FY2023 industry expected to be ~27k units as industry production capacity is still constrained by supplier shortages; core funding and demand is healthy at pre-pandemic order levels 8 28,982

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