Dubai, U.A.E., 30 December 2019: Dubai Aerospace Enterprise (DAE) Ltd. announced that it had repurchased outstanding common shares worth US$450 million. DAE also announced that it had received US$450 million in connection with the early partial repayment of a Note Receivable from certain shareholders.

Firoz Tarapore, Chief Executive Officer of DAE commented: “Our strong balance sheet combined with our best-in-class margins allowed us to further optimize our balance sheet prior to year-end. We are committed to running our business with low levels of leverage and optimal amounts of capital.”