Coach USA Completes Transaction with Affiliates of The Renco Group

Moving Forward with Stronger Financial Foundation

Poised to Enhance Operations and Passenger Experience

Operating Lines and Serving Customers and Communities as Normal

PARAMUS, NJ - October 31, 2024 - Coach USA (the "company"), a leading provider of passenger transportation and mobility services, today announced it has completed its previously announced transaction with an affiliate of The Renco Group, Inc., Bus Company Holdings US, LLC ("BCH US").

Following the completion of the transaction Coach USA is operating the following bus lines under the ownership of an affiliate of the Renco Group: Dillon's, Elko, Megabus Retail, Montreal, Olympia, Trentway/Ontario (including Megabus Canada), Perfect Body, Rockland, Shortline (including Chenango Valley Bus Lines), Suburban, Van Galder and Wisconsin Coach - as well as certain assets of Community Coach. The existing Megabus intellectual property and retail operations are also part of the transaction.

The Coach USA lines are operating normally and without interruption. Customers and commuters can continue to book trips and track schedules through their usual Coach USA channels.

Derrick Waters, Chief Executive Officer of Coach USA, said, "We are moving forward with new owners and a solid financial foundation that will help us drive future growth and services improvement as we strive to be the safest transportation company in North America. The Renco Group brings additional resources and strategic expertise that will support our plans to invest in new technologies, fleet upgrades and service enhancements - all helping to ensure a modern and efficient travel experience for our passengers. Our commitment to providing reliable and affordable transportation is stronger than ever, and we are proud to continue serving communities that have relied on our transportation network for decades."

Mr. Waters continued, "The completion of this transaction serves as an important milestone in the journey of Coach USA. I am incredibly grateful to our employees for their unwavering commitment to working with our valued partners and vendors and safely serving our loyal customers across our routes and markets, every day."

The Company has also separately completed the previously announced transactions, pursuant to which:

• Affiliates of AVALON Transportation, LLC, have acquired the Lenzner, Kerrville, All West and ACL Atlanta lines.

• Affiliates of Wynne Transportation have acquired the Powder River operation and the Butler Motor Transit body shop operation located in Butler, PA.

Additional Information

Court filings and other information related to the proceedings are available on a separate website administrated by the company's claims agent, Kroll, at https://cases.ra.kroll.com/CoachUSA; by calling Kroll representatives toll-free at +1-844-547-4557, or +1-646-777-2330 for calls originating outside of the U.S. or Canada; or by emailing Kroll at [email protected].

Advisors

Alston & Bird LLP served as the company's legal counsel, Houlihan Lokey, Inc. served as financial advisor, CR3 Partners, LLC served as restructuring advisor and Spencer M. Ware served as Chief Restructuring Officer.

About Coach USA:

The Coach USA network operates 1,100 vehicles and has more than 1,700 employees who serve millions of passengers. Coach USA provides critical local and intercity transport services for communities throughout the United States and Canada via Coach Canada. Coach USA also owns Megabus, which provides affordable express bus service for intercity travel.

Media Contact

Michael Freitag / Aaron Palash / Spencer Hoffman / Catherine Simon

Joele Frank, Wilkinson Brimmer Katcher

212-355-4449

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