Dublin | 4 October 2021: Avolon, the international aircraft leasing company, issues an update for the third quarter of 2021 (‘Q3’).

Q3 STRATEGIC & FINANCIAL HIGHLIGHTS

• Partnered with IAI, the world’s leading independent freighter conversion company as launch customer for the IAI A330-300 P2F cargo conversion programme. Avolon has committed to 30 conversion slots between 2025 and 2028;

• Announced that GOL and Grupo Comporte committed to purchase or lease up to 250 zero emissions VA-X4 eVTOL aircraft from Avolon-e;

• Upsized unsecured revolving facility by $1.1bn to $4.3bn, and extended the maturity date from 2024 to 2026;

• Extended $2bn of unsecured note maturities to 2027 and reduced the weighted average interest rate from 5.31% to 2.53%;

• Repriced $672m Term Loan B, reducing interest cost by 50bps; and

• Repaid approximately $650m of secured debt during the quarter with a weighted average interest cost of 3.93%.

Q3 FLEET METRICS & BUSINESS HIGHLIGHTS

-       Executed a total of 54 lease transactions in the quarter, comprising new aircraft leases, follow-on leases and lease extensions;

-       Sold 2 aircraft, and executed agreements for the sale of 12 aircraft during the quarter;

-       Delivered a total of 8 new aircraft to 6 customers and transitioned 9 aircraft to follow-on lessees;

-       Ended third quarter with a total of 150 airline customers operating in 61 countries; and

-       Owned and managed fleet of 585 aircraft at quarter end, with total orders and commitments for 246 fuel-efficient, new technology aircraft.