LOS ANGELES, California, January 19, 2021 — Air Lease Corporation (NYSE: AL) (the “Company”) announced the pricing on January 19, 2021 of its public offering of $750.0 million aggregate principal amount of 0.70% senior unsecured medium-term notes due February 15, 2024 (the “Notes”). The sale of the Notes is expected to close on January 26, 2021, subject to satisfaction of customary closing conditions.

The Notes will mature on February 15, 2024 and will bear interest at a rate of 0.70% per annum, payable semi-annually in arrears on February 15 and August 15 of each year, commencing on August 15, 2021. 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.

Citigroup Global Markets Inc., Fifth Third Securities, Inc., Santander Investment Securities Inc. and SG Americas Securities, LLC 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. The offering of the Notes is being made only by means of the prospectus supplement dated November 20, 2018, supplementing the base prospectus dated November 20, 2018, as may be further supplemented by any free writing prospectus and/or pricing supplements the Company may file with the SEC. Before you invest, you should read the base prospectus, prospectus supplement and any other documents the Company may file with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies may be obtained from: (i) Citigroup Global Markets Inc. toll-free at 1 (800) 831-9146, (ii) Fifth Third Securities, Inc. by calling 1 (866) 531-5353, (iii) Santander Investment Securities Inc. toll-free at 1 (855) 403-3636 or (iv) 1 SG Americas Securities, LLC toll-free at 1 (855) 881-2108.