SHYFT GROUP SECURES FEDEX ORDER FOR BLUE ARCtm EV TRUCKS

Blue Arctm Expects to Deliver New Units Beginning Late 2024

NOVI, Mich., May 2, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ: SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and specialty vehicle markets today announced a purchase order with FedEx for an initial order of 150 Blue Arctm EV Trucks to be integrated into the FedEx pickup and delivery fleet in the U.S. This order reflects the shared commitment of both organizations to reduce carbon emissions and reduce air pollution through the adoption of commercial-grade electric vehicles (EVs).

FedEx tested the vehicle in real-life conditions, using it on last-mile delivery routes in Memphis. During the pilot, the Blue Arc truck operated extended 8-10 hour routes under challenging conditions, including temperatures ranging from 95 to 105 degrees Fahrenheit, marking a significant milestone in the vehicle's readiness for widespread commercial use.

"As we work towards the phased electrification of our entire global pickup and delivery fleet by 2040, FedEx is eager to incorporate new and efficient electric vehicle models that meet the demands of our diverse network," said Pat Donlon, Vice President of Global Vehicles, FedEx Express. "We look forward to bringing the Blue Arc into our growing portfolio of electric vehicles in service around the world."

"Our collaboration with FedEx has been instrumental in refining our strategy for meeting commercial-grade EV fleet needs," said John Dunn, President and CEO of the Shyft Group. "Customer satisfaction is core to our operations and we look forward to seeing these vehicles on the road for FedEx, reflecting our mutual commitment to innovation and sustainability."

The Blue Arc truck, designed for seamless fleet integration, proved reliable on long routes, efficient in energy use, and able to regenerate 20-30 kW of power through its regenerative braking system. Such features underscore the vehicle's readiness for real-world commercial applications, with drivers highlighting its ease of maneuverability and overall comfort compared to conventional gas vehicles.

"Our Work-Driven Design® process is fundamental to our innovation, ensuring we incorporate direct feedback from those who use our vehicles daily," Dunn added. "This approach not only addresses safety and efficiency but also significantly enhances the overall productivity and satisfaction of drivers and fleet operators alike."

About The Shyft Group
The Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets. Our customers include first-to-last mile delivery companies across vocations, federal, state, and local government entities; the trades; and utility and infrastructure segments. The Shyft Group is organized into two core business units: Shyft Fleet Vehicles and Servicestm and Shyft Specialty Vehiclestm. Today, its family of brands include Blue Arctm EV Solutions, Utilimaster®, Royal® Truck Body, DuraMag® and Magnum®, Strobes-R-Ustm, Spartan® RV Chassis, Red Diamondtm Aftermarket Solutions, and Builtmore Contract Manufacturingtm. The Shyft Group and its go-to-market brands are well known in their respective industries for quality, durability, and first-to-market innovation. The Company employs approximately 3,000 employees and contractors across campuses, and operates facilities in Arizona, California, Florida, Indiana, Maine, Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Saltillo, Mexico. The Company reported sales of $872 million in 2023. Learn more at TheShyftGroup.com.

SOURCE The Shyft Group, Inc.