Air Lease (AL) investor relations material

Executive summary

• Achieved record total revenues of $820 million for Q4 and $3.0 billion for FY2025, the highest in company history.

• Net income attributable to common stockholders rose to $170 million for Q4 and $1.0 billion for FY2025, driven by higher revenues and a $736 million insurance recovery related to the Russian fleet.

• Delivered 10 new aircraft in Q4, ending the year with 490 owned aircraft and $33 billion in total assets.

• Sold 23 aircraft in Q4 for $1.0 billion in proceeds; 48 aircraft sold in FY2025.

• Announced a pending merger with Sumisho Air Lease Corporation, expected to close in H1 2026.

Financial highlights

• Q4 revenues increased 15% year-over-year to $820.4 million; FY2025 revenues up 10.3% to $3.02 billion.

• Q4 net income attributable to common stockholders grew 83.7% year-over-year to $169.9 million; FY2025 net income up 180.6% to $1.04 billion.

• Adjusted net income before income taxes for Q4 was $247 million (up 64.2%); for FY2025, $718.4 million (up 25.1%).

• Q4 gain on aircraft sales and trading rose 90% year-over-year to $141 million; FY2025 gain was $331 million, up 35%.

• Diluted EPS for FY2025 was $9.29, up from $3.33 in FY2024.

Outlook and guidance

• No forward guidance provided due to the pending merger.