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Commitment to environmental stewardship, social impact, and governance excellence continues to drive progress

NOVI, Mich., Sept. 17, 2024 /PRNewswire/ -- The Shyft Group, Inc. SHYF, the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced the release of its 2024 Sustainability Report, Focusing Forward, Sustainably. The report outlines strategic efforts in reducing emissions, improving workplace safety, advancing belonging and inclusion, and assessing future climate impacts through the company's first physical climate risk assessment. The full report is available at: Sustainability Report - The Shyft Group.

"We take great pride in the progress outlined in our 2024 Sustainability Report. Our efforts reflect a comprehensive approach to sustainability that touches every facet of our operations—including environmental considerations, the safety of our workforce, and our commitment to social responsibility," said Josh Sherbin, Chief Legal, Administrative, and Compliance Officer. "These milestones reflect our team's commitment to sustainable growth, and we look forward to accelerating these initiatives in the years ahead."

The 2024 Sustainability Report builds on previous reports, highlighting Shyft's progress from fiscal year 2023 into 2024. The company achieved notable advances across its key sustainability pillars—environmental stewardship, social responsibility, and governance excellence—each integral to creating long-term value for stakeholders, employees, and communities.

Key Highlights of the 2024 Sustainability Report:

Reduction in Emissions: Scope 2 GHG emissions were reduced by 15% year-over-year, driven by energy efficiency improvements.

Scope 2 GHG emissions were reduced by 15% year-over-year, driven by energy efficiency improvements. Blue Arc EV™ Solutions: Secured an order of 150 Blue Arc™ EV Trucks from FedEx, supporting the transition to zero-emission transportation.

Secured an order of 150 Blue Arc™ EV Trucks from FedEx, supporting the transition to zero-emission transportation. Enhanced Safety Performance: As part of its Mission Zero safety initiative, Shyft reduced its Total Recordable Incident Rate by 40% and its Lost Time Case Incident Rate by 75%.

As part of its safety initiative, Shyft reduced its Total Recordable Incident Rate by 40% and its Lost Time Case Incident Rate by 75%. Climate Risk Disclosure: The company's first physical climate risk assessment evaluates the potential impacts of climate change on operations, demonstrating Shyft's proactive sustainability strategy.

The company's first physical climate risk assessment evaluates the potential impacts of climate change on operations, demonstrating Shyft's proactive sustainability strategy. Social Responsibility: Through its Shyft For Good program, the company is committed to donating $100,000 to non-profit organizations focused on health, education, and the environment, reinforcing its role as a responsible corporate citizen.

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 Services™ and Shyft Specialty Vehicles™. Today, its family of brands include Utilimaster®, Blue Arc™ EV Solutions, Royal® Truck Body, DuraMag® and Magnum®, Strobes-R-Us, Spartan® RV Chassis, Red Diamond™ Aftermarket Solutions, Builtmore Contract Manufacturing™, and Independent Truck Upfitters. 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, Iowa, Maine, Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Saltillo, Mexico. The Company reported sales of $872 million in 2023. Learn more at TheShyftGroup.com.

Forward Looking Statement

CONTACTS

MEDIA

Sydney Machesky

Director, Corporate Communications

The Shyft Group

Sydney.Machesky@theshyftgroup.com

586.413.4112

INVESTORS

Randy Wilson

Vice President, Investor Relations and Treasury

Randy.Wilson@theshyftgroup.com

248.727.3755

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SOURCE The Shyft Group, Inc.

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