Blue Bird transfers pension obligations for 2,044 participants to Pacific Life

Blue Bird Corp

Plan purchased group annuity contracts; $94M in liabilities transferred, funded by Plan assets.
In April 2026, Plan paid ~$13M in lump-sum distributions to certain participants.
Company expects material non-cash pension settlement charge in Q3 FY2026 ending June 27, 2026.
Pacific Life assumes benefit obligations effective August 1, 2026; Plan to terminate thereafter.
No additional funding required from Blue Bird; closing expected May 19, 2026.

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