Three Months Ended February 29, 2024 Net income of $29 million compared to $14 million of net income in fourth quarter 2022(1); Total revenues of $230 million and Adjusted EBITDA(2) of $203 million; Acquired 16 aircraft for $587 million; and Sold 10 aircraft for proceeds of $163 million and a gain on sale or disposition of $54 million; includes $43 million in settlement proceeds relating to aircraft formerly on lease to 2 Russian airlines. Full Year Ended February 29, 2024 Net income of $83 million compared to $63 million of net income in fiscal 2022(1) Acquired 30 aircraft during fiscal year 2023 for $1.2 billion; new technology composed 73% of NBV acquired; Sold 28 aircraft and other flight equipment with an average age of 18 years for proceeds of $362 million and a gain on sale or disposition of $122 million; includes $43 million in settlement proceeds relating to aircraft formerly on lease to 2 Russian airlines; and Executed 161 transactions for fiscal year 2023, comprised of lease agreements, amendments, extensions, purchases and sales. Liquidity Raised $1.7 billion in new financings from $1.3 billion in unsecured senior notes and $395 million from extended and upsized revolving credit facilities; Received $200 million of shareholder equity, the first tranche of a $500 million commitment; the remaining $300 million is expected in the first quarter of fiscal year 2024; As of April 1, 2024, total liquidity of $3.0 billion includes $2.1 billion of undrawn credit facilities, $0.5 billion of projected adjusted operating cash flows through April 1, 2025, $0.3 billion of committed capital and $0.1 billion of unrestricted cash; and We have 205 unencumbered aircraft and other flight equipment with a net book value of $5.8 billion.   (1) Refer to the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K for additional information. (2) Refer to the selected financial information accompanying this press release for a reconciliation of GAAP to Non-GAAP numbers. STAMFORD, Conn., April 25, 2024 /PRNewswire/ -- Mike Inglese, Aircastle's Chief Executive Officer, commented, "We're seeing passenger travel demand transition from recovery to growth in many major markets. Airlines want to build upon 2023's profitability with additional aircraft. In fiscal 2023, our team successfully completed $1.2 billion in new acquisitions, returning us to pre-pandemic trading levels. Our new technology fleet continues to grow while our current technology aircraft are meeting the high demand for placements and extensions. Looking ahead, the years-long forecasted shortage of narrow-body passenger aircraft supports our unique business model." Mr. Inglese concluded, "On the funding side of our business, this fiscal year we sourced $1.7 billion in new financing and received a new $500 million shareholder commitment from Marubeni Corporation and Mizuho Leasing. This outstanding shareholder support along with our ability to raise capital and execute quickly on transactions has us optimistic about disciplined future growth." Aviation Assets As of February 29, 2024, Aircastle owned 243 aircraft and other flight equipment having a net book value of $7.2 billion. We also manage 9 aircraft with a net book value of $272 million on behalf of our joint venture with Mizuho Leasing. Owned Aircraft As of February 29, 2024 As of February 28, 2023 Net Book Value of Flight Equipment ($ mils.) $              7,223 $              6,635 Net Book Value of Unencumbered Flight Equipment ($ mils.) $              5,839 $              5,469 Number of Aircraft 243 239 Number of Unencumbered Aircraft 205 209 Number of Lessees 75 73 Number of Countries 43 44 Weighted Average Fleet Age (years)(1) 9.3 9.7 Weighted Average Remaining Lease Term (years)(1) 5.4 5.3 Weighted Average Fleet Utilization for the fourth quarter(2) 99.2 % 94.6 % Weighted Average Fleet Utilization for the year ended(2) 98.3 % 94.8 % Managed Aircraft on behalf of Joint Venture Net Book Value of Flight Equipment ($ mils.) $                 272 $                 285 Number of Aircraft 9 9 _______________ (1) Weighted by Net Book Value. (2) Aircraft on lease as a percentage of total days in period weighted by net book value.   Conference Call In connection with this press release, management will host a conference call on Thursday, April 25, 2024, at 9:00 A.M. Eastern Time. All interested parties are welcome to participate on the live call. The conference call can be accessed by dialing +1 (877) 870-4263 (from within the U.S. and Canada) or +1 (412) 317-0790 (outside the U.S. and Canada) ten minutes prior to the scheduled start. Please reference our company name "Aircastle" when prompted by the operator. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.aircastle.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.  For those who are not available to listen to the live call, a replay will be available on Aircastle's website shortly after the live call. About Aircastle Limited Aircastle Limited acquires, leases, and sells commercial jet aircraft to airlines throughout the world. As of February 29, 2024, Aircastle owned and managed on behalf of its joint ventures 252 aircraft leased to 75 customers located in 43 countries. Safe Harbor All statements in this press release, other than characterizations of historical fact, are forward-looking statements within the meaning of the federal securities laws, including the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include, but are not necessarily limited to, statements relating to our proposed public offering of notes and our ability to acquire, sell, lease or finance aircraft, raise capital, pay dividends, and increase revenues, earnings, EBITDA and Adjusted EBITDA and the global aviation industry and aircraft leasing sector. Words such as "anticipates," "expects," "intends," "plans," "projects," "believes," "may," "will," "would," "could," "should," "seeks," "estimates" and variations on these words and similar expressions are intended to identify such forward-looking statements. These statements are based on our historical performance and that of our subsidiaries and on our current plans, estimates and expectations and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements; Aircastle can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any such forward-looking statements which are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated as of the date of this press release. These risks or uncertainties include, but are not limited to, those described from time to time in Aircastle's filings with the SEC and previously disclosed under "Risk Factors" in Item 1A of Aircastle's most recent Form 10-K and any subsequent filings with the SEC. In addition, new risks and uncertainties emerge from time to time, and it is not possible for Aircastle to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. Aircastle expressly disclaims any obligation to revise or update publicly any forward-looking statement to reflect future events or circumstances.   Aircastle Limited and SubsidiariesConsolidated Balance Sheets(Dollars in thousands, except share data) February 29, February 28, 2024 2023 ASSETS Cash and cash equivalents $        129,977 $        231,861 Accounts receivable 12,518 12,855 Flight equipment held for lease, net 6,940,502 6,567,606 Net investment in leases, net 282,439 67,694 Unconsolidated equity method investment 42,710 40,505 Other assets 271,807 346,330 Total assets $     7,679,953 $     7,266,851 LIABILITIES AND SHAREHOLDERS' EQUITY LIABILITIES Borrowings from secured financings, net $        875,397 $        752,298 Borrowings from unsecured financings, net 3,823,099 3,842,454 Accounts payable, accrued expenses and other liabilities 219,588 206,473 Lease rentals received in advance 52,654 66,816