Willis Lease Finance Corporation · NASDAQ:WLFC
Willis Lease Finance — Q2 2026 Earnings Presentation
18 slides from Willis Lease Finance's earnings presentation, Aug 4, 2026
Slide 1: Q2 2026 Earnings Call
Q2 2026 EARNINGS CALL Date August 4, 2026 Time 10:00 AM EST Presenters Austin C. Willis Scott B. Flaherty
Slide 2: Disclaimer
DISCLAIMER This presentation does not constitute an offer to any person or to the public generally to subscribe for or otherwise acquire any securities. This presentation has been prepared solely for informational purposes and is not intended to serve as the basis for any investment decision. Under
Slide 3: Why Willis?
WHY WILLIS? Vertically Willis Aviation Capital Core Leasing Business Services Strong Balance Sheet Integrated Platform (WAC) ENABLES LEVERAGES CAPTURES ACCELERATES SUPPORTS differentiated offerings strong aviation leasing growing maintenance and a flywheel effect across long-term growth and and stro
Slide 4: Q2 Highlights
Q2 HIGHLIGHTS Grew AUM Seeded Funds Portfolio M&A Transactions Convertible Offering Grew assets under management across the Completed $300M in seed asset sales to Acquired three Airbus A330-300s that will be Issued $200M of 5-year, 2.5% senior Willis Lease balance sheet and Willis Aviation establish
Slide 5: Q2 Financial Results Continue Growth Trajectory
Q2 FINANCIAL RESULTS CONTINUE GROWTH TRAJECTORY REVENUE NET INCOME TO SHAREHOLDERS BLENDED UTILIZATION (4) $194.0M $28.7M 85% Return on Equity of 13% (2) With on-lease lease rate factor of 1.03% per month (4) ASSETS UNDER MANAGEMENT Adjusted EBITDA NET DEBT / EQUITY $4.4B(1) $120.7M(5) 2.78x(3) Up 2
Slide 6: Consistent Growth Across Entire Platform
CONSISTENT GROWTH ACROSS ENTIRE PLATFORM Driven by WLFC’s market leading assets, capabilities and deep customer relationships $7.5 $72.3 7% $77.1 +$7.0M $50.2 -22% $39.0 $0.5 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 LEASE RENT SHORT-TERM MAINTENANCE RESERVES LONG-TERM MAINTENANCE RESERVES ▪ L
Slide 7: Profitability & Cashflows
PROFITABILITY & CASHFLOWS Net income, EPS, and adjusted EBITDA $59.0 $28.7 80% $2.81 $116.1 4% $120.7 72% $1.31 $16.0 (1) (2) $0.76 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Net Income Diluted EPS Adjusted EBITDA ▪ $28.7M Net Income, up 80% YoY, excluding one-time gain from 2025 BAML ▪ Adjuste
Slide 8: Willis Aviation Capital Enhances WLFC Portfolio
WILLIS AVIATION CAPITAL ENHANCES WLFC PORTFOLIO Transforms WLFC from balance-sheet lessor to scaled aviation asset manager Blackstone Credit & Insurance Willis Aviation Capital (WAC) Engine leasing >$1.0B REVENUE VOLUME ORIGINATION Liberty Mutual Investments Up to $600M Generates recurring income In
Slide 9: Scaling a Capital-Light Asset Management Platform
SCALING A CAPITAL-LIGHT ASSET MANAGEMENT PLATFORM Leveraging our industr y -leading Willis Platform ® to bring attractive returns to our par tners and enhance enterprise value (2) $1BN+ $1B+ (2) (1) AUM: $4.4 BN+ as of 6/30/2026 $600M(2) $204M(5) $2.8BN+ committed and managed capital $372M $103M(4)
Slide 10: Platform Offers Differentiated Capabilities to Customers
PLATFORM OFFERS DIFFERENTIATED CAPABILITIES TO CUSTOMERS ▪ Engine & Aircraft Leasing ▪ Institutional-backed Capital at Scale ▪ Engine Maintenance & Disassembly (US/UK) ▪ Regional & Specialty Assets Leasing ▪ Leasing, Loans & Loan-like Products ▪ CFM56-5B/7B Test Cell (US) – Coming Soon! ▪ Engine & A
Slide 11: Unique Opportunity in Aviation
UNIQUE OPPORTUNITY IN AVIATION The right platform in the right market at the right time Right Platform Right Market Right Time ▪ Proven leadership team with deep aviation ▪ ~$4.4B AUM(1) in high-demand assets ▪ Visible pipeline driving near-term earnings leasing track record growth ▪ Broad diversifi
Slide 12: Appendix
APPENDIX
Slide 13: Consolidated Quarterly Statements of Income
1 Consolidated Quarterly Statements of Income
Slide 14: Consolidated Quarterly Statements of Income
Consolidated Quarterly Statements of Income (unaudited) in (000s) Q2 2026 Q2 2025 Lease rent revenue $ 77,137 $ 72,268 Maintenance reserve revenue 46,456 50,743 Spare parts and equipment sales 21,180 30,354 Interest revenue 1,183 3,649 Gain on sale of leased equipment 32,038 27,582 Gain on sale of f
Slide 15: Consolidated Balance Sheets
2 Consolidated Balance Sheets
Slide 16: Consolidated Balance Sheets
Consolidated Balance Sheets in (000s) June 30, 2026 (1) December 31, 2025 Cash and cash equivalents $ 10,725 $ 16,441 Restricted cash 161,497 530,500 Equipment held for operating lease, less accumulated depreciation 2,783,382 2,801,683 Maintenance rights 83,632 30,632 Equipment held for sale 77,002
Slide 17: Reconciliation of Non-GAAP Measures
3 Reconciliation of Non-GAAP Measures
Slide 18: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (unaudited)(1) Q2 2026 and Q2 2025 in (000s) Q2 2026 Q2 2025 Net income attributable to common shareholders $ 28,745 $ 58,955 Add: Income tax expense 7,828 13,920 Add: Interest expense 29,689 33,569 Add: Preferred stock dividends/costs 1,423 1,422 Add: Loss on debt ext