EV Production Scaling and Financial Overview

Strong Outlook Ahead for Blue Bird / Investment Highlights Countercyclical National Commitment The Leader Expanding our TAM Strong industry growth ahead with a backdrop of healthy funding and an aging school bus fleet Beneficiary of $5B US Government's commitment to the electrification of school buses Leading market position in alternative power and electric school buses Product portfolio further diversified through introduction of EV commercial chassis offering Reducing Costs Reducing structural costs through Lean Transformation Profitable Growth Pricing aligned to market economics and volatility 26 26 BLUE BIRD EBITDA margins of 10% in 2-3 years and 12% in 4-5 years, in a normalized operating environment

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