DAE announces early retirement of US$488 million of 5.25% Senior Unsecured Notes

Dubai, U.A.E., 14 September 2021 – Dubai Aerospace Enterprise (DAE) Ltd today announced that it had delivered a notice of early redemption (the “Redemption Notice”) to the holders of the Company’s US$500 million of 5.25% Senior Notes due 2021 (the “Notes”). The Notes are scheduled to be redeemed on October 15, 2021. The outstanding principal amount of the Notes as of the date of the Redemption Notice was approximately US$488 million.

The Notes will be redeemed in accordance with the terms and conditions of the applicable indenture at a redemption price equal to 100.000% of the principal amount of the Notes, plus accrued and unpaid interest, if any.

Wells Fargo Bank, N.A. is the trustee and paying agent for the Notes. The terms of the redemption are further described in the Redemption Notice.

In the last 12 months, DAE issued new Senior Unsecured Notes with a combined principal amount of US$3.3 billion with a weighted average maturity of 4.7 years, and redeemed or announced for redemption Senior Unsecured Notes with a combined outstanding principal balance of approximately US$2.2 billion.

This press release shall not constitute a notice of redemption nor does it constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful.