LOS ANGELES, California, November 27, 2019 — Air Lease Corporation (NYSE: AL) (the “Company”) announced the pricing on November 26, 2019 of its offering of C$400 million, or U.S.$301 million (based on a Canadian dollar/U.S. dollar exchange rate of C$1.00=U.S.$0.7523, as announced by the U.S. Federal Reserve Board as of November 22, 2019), aggregate principal amount of 2.625% senior unsecured medium-term notes due December 5, 2024 (the “Notes”). The sale of the Notes is expected to close on December 5, 2019, subject to satisfaction of customary closing conditions.

The Notes will mature on December 5, 2024 and will bear interest at a rate of 2.625% per annum, payable semi-annually in arrears on June 5 and December 5 of each year, commencing on June 5, 2020. Owners of the Notes will receive payments relating to their Notes in Canadian dollars.

The Company intends to use the net proceeds of the offering for general corporate purposes, which may include, among other things, the purchase of commercial aircraft and the repayment of existing indebtedness.

BMO Nesbitt Burns Inc., Merrill Lynch Canada Inc., RBC Dominion Securities Inc. and TD Securities Inc. are acting as joint book-running managers for the offering of the Notes.

The Notes are being offered pursuant to the Company’s effective shelf registration statement, previously filed with the Securities and Exchange Commission (the “SEC”) on May 10, 2018, as amended by the Post-Effective Amendment No. 1, filed with the SEC on November 20, 2018, and a pricing supplement, dated November 26, 2019, supplementing the prospectus supplement, dated November 20, 2018, to the base prospectus, dated November 20, 2018, as may be further supplemented by any free writing prospectus and/or additional pricing supplements the Company may file with the SEC, and in Canada on a private placement basis pursuant to a Canadian offering memorandum to accredited investors who are also permitted clients within the meaning of Canadian securities laws. For more complete information about the Company and this offering before you invest, you should read the related base prospectus, related prospectus supplement, related pricing supplement and the documents incorporated by reference in each (which may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov), or if you are a Canadian investor you should read the Canadian offering memorandum. Copies of the related base prospectus, related prospectus supplement and related pricing supplement may be obtained from: (i) BMO Nesbitt Burns Inc. toll free at (866) 864-7760, (ii) Merrill Lynch Canada Inc. toll free at (800) 294-1322, (iii) RBC Dominion Securities Inc. toll free at (866) 375-6829, or (iv) TD Securities Inc. toll free at (800) 263-5292 or, if you are a Canadian investor and request it, the Canadian offering memorandum may be obtained from: (i) BMO Nesbitt Burns Inc. at (416) 359-6359, (ii) Merrill Lynch Canada Inc. at (800) 294-1322, (iii) RBC Dominion Securities Inc. at (416) 842-6311, or (iv) TD Securities Inc. at (800) 263-5292.