Sumisho Air Lease

The following table shows the scheduled lease terminations (for the minimum non-cancellable period which does not include contracted unexercised lease extension options) of our owned aircraft as of December 31, 2025, updated through February 12, 2026:

Airbus A220-100 · — · — · — · — · — · 8 · 8

Airbus A220-300 · — · 2 · — · — · — · 31 · 33

Airbus A320-200 · 2 · 1 · — · 1 · — · 13 · 17

Airbus A320-200neo · — · 3 · 4 · 3 · 3 · 10 · 23

Airbus A321-200 · 1 · 3 · 6 · 5 · 2 · — · 17

Airbus A321-200neo · 1 · 6 · 6 · 10 · 8 · 78 · 109

Airbus A330-200(1) · — · — · 3 · 6 · — · 4 · 13

Airbus A330-300 · — · 1 · 1 · 1 · 1 · 1 · 5

Airbus A330-900neo · — · — · — · 1 · — · 27 · 28

Airbus A350-900 · — · — · — · — · — · 17 · 17

Airbus A350-1000 · — · — · — · — · — · 8 · 8

Boeing 737-800 · 5 · 8 · 10 · 6 · 2 · 7 · 38

Boeing 737-8 MAX · — · 4 · 4 · 1 · 9 · 53 · 71

Boeing 737-9 MAX · — · — · — · 1 · 2 · 32 · 35

Boeing 777-200ER · — · 1 · — · — · — · — · 1

Boeing 777-300ER · — · 1 · 5 · 2 · 6 · 9 · 23

Boeing 787-9 · 1 · — · 3 · 4 · 3 · 15 · 26

Boeing 787-10 · — · — · — · — · — · 17 · 17

Embraer E190 · — · — · — · — · 1 · — · 1

Total(2) · 10 · 30 · 42 · 41 · 37 · 330 · 490

(1) As of December 31, 2025 and 2024, aircraft count includes three and two Airbus A330-200 aircraft classified as freighters, respectively.

(2) As of December 31, 2025 and 2024, our owned fleet count included 12 and 30 aircraft classified as flight equipment held for sale, respectively, and 16 and 15 aircraft classified as net investments in sales-type leases, respectively.

Commitments

As of December 31, 2025, we had contractual commitments to acquire a total of 218 new aircraft from Airbus and Boeing for delivery through 2031, with an estimated aggregate commitment (including adjustments for anticipated inflation) of $12.6 billion as shown in the following tables. The tables are subject to change based on Airbus and Boeing delivery delays. See “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Our Fleet—Aircraft Delivery Delays” for more information. For more information on the risks and uncertainties impacting our aircraft deliveries, see “Part I—Item 1A. Risk Factors” in this Annual Report on Form 10-K.

Boeing 737-8/9 MAX · 23 · 21 · 2 · — · — · 5 · 51

Total(2)(3) · 53 · 68 · 50 · 42 · — · 5 · 218

(1) Our Airbus A320/321neo aircraft orders include 13 long-range variants and 48 extra long-range variants.

(2) The table above reflects Airbus and Boeing aircraft delivery delays based on contractual documentation.

(3) See section entitled “Proposed Merger” under “Part I—Item 1. Business” above for more information on the Orderbook Transfer and its impact on aircraft that deliver after the effective time of the Merger.

New Aircraft Placements

The following table, which is subject to change based on Airbus and Boeing delivery delays, shows the number of new aircraft to be delivered as of December 31, 2025, along with the lease placements of such aircraft as of February 12, 2026. Airbus and Boeing have expressed their desire to increase production rates on several aircraft types but have not meaningfully increased production because of several factors, including ongoing supply chain constraints and other production issues. See “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Our Fleet—Aircraft Delivery Delays” for more information.

Delivery Year · Total number of lease placements · Number of aircraft in our orderbook · % Leased

2026 · 53 · 53 · 100.0

2027 · 67 · 68 · 98.5

2028 · 20 · 50 · 40.0

2029 · — · 42 · —

2030 · — · — · —

Thereafter · — · 5 · —

Total(1) · 140 · 218 · 64.2

(1) See section entitled “Proposed Merger” under “Part I—Item 1. Business” above for more information on the Orderbook Transfer and its impact on future committed fleet rentals for aircraft that deliver after the effective time of the Merger.

Our lease commitments for all aircraft to be delivered in 2026 are binding leases. Our lease commitments for aircraft to be delivered in 2027 are comprised of 63 binding leases and four non-binding letters of intent. Our lease commitments for all aircraft to be delivered in 2028 are binding leases. While our management’s historical experience is that non-binding letters of intent for aircraft leases generally lead to binding contracts, we cannot be certain that we will ultimately execute binding agreements for all or any of the letters of intent. While we actively seek lease placements for all aircraft in our orderbook, in making our lease placement decisions, we also take into consideration the anticipated growth in the aircraft leasing market and anticipated improvements in lease rates, which could lead us to determine that entering into particular lease arrangements at a later date would be more beneficial to us.

Facilities

We lease our principal executive office at 2000 Avenue of the Stars, Suite 1000N, Los Angeles, California 90067, USA. We also lease an office in Hong Kong and own our office in Dublin, Ireland. We believe our current facilities are adequate for our current needs and for the foreseeable future.

• Cost of borrowing or interest rate increases may adversely affect our net income and our ability to compete in the marketplace.
• Negative changes in our credit ratings may limit our ability to obtain financing or increase our borrowing costs, which may adversely impact our net income and/or our ability to compete in the marketplace.
• Certain of our debt agreements contain covenants that impose restrictions on us and our subsidiaries that may limit our flexibility to operate our business.
• We may be unable to generate sufficient returns on our aircraft investments which may have an adverse impact on our net income.
• Failure to satisfy our aircraft acquisition commitments would negatively affect our ability to further grow our fleet and net income.
• Failure to complete our planned aircraft sales could affect our net income and may lead us to use alternative sources of liquidity.
• The failure of an aircraft or engine manufacturer to meet its delivery obligations to us may negatively impact our ability to grow our fleet and our earnings.
• If our aircraft become obsolete or experience a decline in customer demand, our ability to lease and sell those aircraft and our results of operations may be negatively impacted and may result in impairment charges.
• The value and lease rates for aircraft that we own or acquire could decline resulting in an impact to our earnings and cash flows.
• Inflationary pressure may have a negative impact on our financial results, including by diminishing the value of our leases.
• Aircraft have limited economic useful lives and depreciate over time and we may be required to record an impairment charge or sell aircraft for a price less than its depreciated book value which may impact our financial results.
• We have concentrated customer exposure and economic, legal and political risks associated with these lessees, including adverse events involving the regions in which these lessees operate may have an adverse effect on our financial condition.
• We are dependent on the ability of our lessees to perform their payment and other obligations to us under our leases and their failure to do so may materially and adversely affect our financial results and cash flows.
• Lessee defaults and reorganizations, bankruptcies or similar proceedings, may result in lost revenues and additional costs.
• We may experience increased competition from other aircraft lessors which may impact our ability to execute our long-term strategy.
• Our lessees may fail to adequately insure our aircraft or fulfill their indemnity obligations, or we may not be able to adequately insure our aircraft, which may result in increased costs and liabilities.
• We may experience the death, incapacity or departure of one of our key officers which may negatively impact our business.
• A cyberattack or other interruption could lead to a material disruption of our information technology (“IT”) systems or the IT systems of our third-party providers and the loss of information, which may hinder our ability to conduct our business effectively and may result in lost revenues and additional costs.
• Conflicts of interest between us and clients utilizing our fleet management services could arise which may result in legal challenges or reputational harm.
• We may encounter disputes, deadlock or other conflicts of interest with investment partners of entities in which we have minority interests and for which we serve as manager of the aircraft owned by the entities which may result in legal challenges, reputational harm or loss of fee income.
• Events outside of our control, including the threat or realization of epidemic diseases, natural disasters, terrorist attacks, war or armed hostilities between countries or non-state actors, may adversely affect the demand for air travel, the financial condition of our lessees and of the aviation industry more broadly, or our operations and may ultimately impact our business.
• Aircraft oversupply in the industry could decrease the value and lease rates of the aircraft in our fleet resulting in an impact to our earnings and cash flows.
• Export and import restrictions and tariffs may impact where we can place and deliver our aircraft and negatively impact our ability to execute on our long-term strategy.
• We are subject to the economic and political risks associated with doing business around the world, including in emerging markets, which may expose our business to heightened risks and negatively impact our earnings and cash flows.
• Changes in fuel costs could negatively affect our lessees’ ability to honor the terms of their leases and by extension the demand for our aircraft.
• The appreciation of the U.S. dollar could negatively impact our lessees’ ability to honor the terms of their leases, which are generally denominated in U.S. dollars, and may result in lost revenues and reduced net income.
• Income and other taxes could negatively affect our business and operating results due to our multi-jurisdictional operations.
• Environmental regulations, fees, taxes and reporting, and other concerns may negatively affect demand for our aircraft, reduce travel and ultimately impact the operating results of our customers.
• Climate change may have a long-term impact on our business.
• Risks and requirements related to transacting business in foreign countries may result in increased liabilities including penalties and fines as well as reputational harm.
• A lessee’s failure to obtain required licenses, consents and approvals could negatively affect our ability to remarket or sell aircraft.
• Data privacy risks, including evolving laws, regulations, and other obligations and compliance efforts, may result in business interruption and increased costs and liabilities.
• Provisions in Delaware law and our restated certificate of incorporation and amended and restated bylaws may inhibit a takeover of us, which could entrench management or cause the price of our Class A common stock to decline.
• Our amended and restated bylaws provide that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or other employees or stockholders.
• Future offerings of debt or equity securities by us may adversely affect the market price of our Class A common stock.
• We may not be able to continue, or may elect to discontinue, paying dividends which may adversely affect our stock price.
• Future sales of our Class A common stock by our directors, executive officers or significant stockholders, or the perception these sales may occur, may cause our stock price to decline.