Blue Bird and Generate Capital Appoint General Manager for Clean Bus Solutions Joint Venture

Industry Veteran Chris Baker to Head Fleet Electrification-as-a-Service Business

Blue Bird Corporation (NASDAQ:BLBD), the leader in electric and low-emission school buses, and Generate Capital, a leading sustainable investment and operating company, have appointed industry veteran Chris Baker to General Manager of their 50/50 joint venture, Clean Bus Solutions LLC. Blue Bird and Generate Capital established the fleet electrification-as-a-service business to meet the increasing demand for electric school buses and further accelerate the adoption of clean student transportation in North America.

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Blue Bird and Generate Capital have appointed industry veteran Chris Baker to General Manager of their 50/50 joint venture, Clean Bus Solutions LLC. (Photo: Business Wire)

Baker will lead Clean Bus Solutions and drive its dynamic business growth. The clean energy industry veteran brings more than two decades of general management, sales, and consulting experience to the organization. Most recently, Baker served as president of Enel Group's U.S. charging business. Before then, he held senior sales roles at Stem, a leader in AI-driven clean energy solutions and services, and at Bloom Energy, a low carbon energy provider.

Baker holds bachelor degrees in Economics and Biology from the University of California at San Diego and a master's degree in Business Administration from Columbia University.

"We are pleased to welcome Chris Baker to lead Clean Bus Solutions," said Britton Smith, president of Blue Bird Corporation and chairman of Clean Bus Solutions LLC. "Chris brings a wealth of knowledge and expertise to our fleet electrification-as-a-service joint venture. He is driven and passionate about the electrification of student transportation. Blue Bird customers in North America are poised to benefit greatly from his leadership to avoid the significant upfront costs and complexity of electrifying their school bus fleets."

"Chris's dedication to the infrastructure transition and extensive experience with fleet electrification will help communities clean the air their children breathe and deliver savings to school districts," said Scott Jacobs, CEO and Co-Founder of Generate Capital. "We look forward to working with Chris to offer affordable and comprehensive fleet-as-a service solutions and accelerate the electrification of school buses across the United States."

"I am delighted to join forces with two of the leaders in clean transportation," added Chris Baker. "School bus electrification is one of the greatest economic and environmental opportunities for school districts and Clean Bus Solutions de-risks the transition process by offering best-in-class buses and smart charging solutions at no upfront cost."

The joint venture's fleet electrification-as-a-service offering will make it simpler for school districts to decarbonize their bus fleets by offering electric school buses and associated charging infrastructure at an affordable monthly fee. This turnkey electrification solution will include Blue Bird's best-selling and widest range of electric school buses in the industry, financing of both electric vehicles and charging infrastructure, project planning and management as well as fleet and charging optimization.

About Blue Bird Corporation

Blue Bird (NASDAQ:BLBD) is recognized as a technology leader and innovator of school buses since its founding in 1927. Our dedicated team members design, engineer and manufacture school buses with a singular focus on safety, reliability, and durability. School buses carry the most precious cargo in the world – 25 million children twice a day – making them the most trusted mode of student transportation. The company is the proven leader in low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric powered buses in operation today. Blue Bird is transforming the student transportation industry through cleaner energy solutions. For more information on Blue Bird's complete product and service portfolio, visit www.blue-bird.com.

About Generate Capital

Generate Capital is a leading sustainable investment and operating platform driving the infrastructure transition. Generate aims to provide the capital and help that developers, businesses, cities and communities need to accelerate cost savings, resilience and decarbonization. Since 2014, Generate has invested in and operated sustainable assets across six sectors: power, mobility, waste, green digital, water and agriculture, and industrial decarbonization. With more than $10 billion raised since inception, 50+ technology and development partnerships and more than 2,000 assets globally, Generate's one-stop-shop offers proof, not promises that sustainability pays. For more information, please visit www.generatecapital.com.

Forward Looking Statements

This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations for future financial performance, business strategies or expectations for our business and the joint venture described in this press release. Specifically, forward-looking statements include statements in this press release regarding earnings growth and Blue Bird's future positioning and may include other statements preceded by, followed by or that include the words "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "target" or similar expressions.

These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. The factors described above, as well as risk factors described in reports filed with the SEC by us (available at www.sec.gov), could cause our actual results to differ materially from estimates or expectations reflected in such forward-looking statements.

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