Aercap Holdings N.v. · NYSE:AER
Aercap — Q3 2025 Earnings Presentation
19 slides from Aercap's earnings presentation, Oct 29, 2025
Slide 1: Third Quarter Financial Results
AERCAP | TH HI RD JQUARTER ) FINANCIAL AERCAP HOLDINGS N.V.
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL INFORMATION This presentation contains certain statements, estimates and forecasts with respect to future performance and events. These statements, estimates and forecasts are "forward-looking statements’. In some cases, forward-looking statements ca
Slide 3: Key Highlights
KEY HIGHLIGHTS AERCAP ! © AerCap Record 3Q 2025 Results: GAAP EPS of $6.98, Adjusted EPS of $4.97 $1.5 Billion of Sales in 3Q; 28% Gain-on-Sale Margin, 2.0x Book Equity Multiple Insurance, Interest and Other Recoveries of $475 Million During 3Q Signed an Agreement with Airbus for an Order of 52 A320
Slide 4: Significant Activity Across All Business Lines
SIGNIFICANT ACTIVITY ACROSS ALL BUSINESS LINES @ ats FE) ENGINES AIRCRAFT HELICOPTERS TOTAL TRANSACTIONS TRANSACTIONS TRANSACTIONS TRANSACTIONS 15 39 12 LEASED LEASED LEASED LEASED 11 17 7 PURCHASED PURCHASED PURCHASED PURCHASED 40 SOLD
Slide 5: Ongoing Capital Recycling Strategy
ONGOING CAPITAL RECYCLING STRATEGY Difference between asset prices and share price provides an attractive capital deployment opportunity Asset Sales vs. Share Repurchases (BV Multiple) Quarterly Share Repurchase Volumes & 1,400 1408 : e = 1,200 @ 120 2.2x C e e 1,000 e 100 e e e o @ 1.8x e ° e e 800
Slide 6: 3Q 2025 Net Income Walk
3Q 2025 NET INCOME WALK 3Q 2025 Adjusted Net Income Increase S Decrease = 62 2 (475) 62 GAAP Net Purchase Net Recoveries Income Tax Adjusted Net Income Accounting Related to Effect Income Adjustments* Ukraine Conflict* EPS $6.98 $0.36 ($2.73) $0.36 $4.97 *These items are presented pre-tax. See Suppl
Slide 7: Strong Liquidity Position
STRONG LIQUIDITY POSITION Adjusted leverage ratio of 2.1x 22 g ree Ft 3Q 2025 operating cash flow = 20 ' ' of $1.5 billion 2 8 ' ' H E I 5 . 16 ' coverage ! > Secured debt-to-total assets ratio 4 ! “$12 | of ~10% ” $3 10 po Average cost of debt of 4.0% in 3Q 2025 8 6 ~$9 arn 5 8.2 million shares rep
Slide 8: Raising Full-Year 2025 Guidance
RAISING FULL-YEAR 2025 GUIDANCE 2025 sted Earnings Per Share Guidance Key drivers of outperformance include: ~$13.70 $14.00 ™ Guidance not including any gains on sale $13.00 Gains on sale _gtt60 > 9M 2025 gains on sale $12.00 : $11.00 Higher lease revenue and other $10.00 23021030 income $9.00 $8.00
Slide 9: Q&A
Slide 10: Supplemental Information
Slide 11: 3Q 2025 Adjusted Net Income and EPS Reconciliation
3Q 2025 ADJUSTED NET INCOME AND EPS RECONCILIATION ($ million, except per share amounts) Net Income Earnings Per Share ($) Net Income / Earnings Per Share $1,216 $6.98 > Amortization of Maintenance Rights and Lease Premium Assets Recognized under Purchase Accounting 2 Ossts > Net Recoveries Related
Slide 12: 3Q 2025 Financial Drivers
3Q 2025 FINANCIAL DRIVERS Net recoveries related to Ukraine Conflict were $475 million consisting of insurance settlement proceeds, an interest award and other recoveries Basic lease rents were $1,690 million, and were negatively impacted by $26 million of lease premium amortization Maintenance rent
Slide 13: Full-Year 2025 Adjusted EPS Guidance
FULL-YEAR 2025 ADJUSTED EPS GUIDANCE (§ billion, except per share amounts) Fee egy eee Net Income $3.4 > Amortization of Maintenance Rights and Lease Premium Assets Recognized under Purchase 03 Accounting > Net Recoveries Related to Ukraine Conflict (1.4) > Income Tax Effect 0.2 Adjusted Net Income
Slide 14: Book Value Per Share
BOOK VALUE PER SHARE (million, except per share data) Sept. 30, 2025 Total Shareholders’ Equity $18,149 Ordinary Shares Outstanding 170.2 Unvested Restricted Stock (4) Ordinary Shares Outstanding (excl. Unvested Restricted Stock) 166.2 Book Value Per Share $109.22 See Supplemental Information - Endn
Slide 15: Capital Structure
CAPITAL STRUCTURE Adjusted Debt/Equity Calculation ($ million) Sept. 30, 2025 Dec. 31, 2024 Debt $44,029 $45,295 Adjusted for: > Unrestricted cash & cash equivalents (1,814) (1,209) > 50% equity credit for long-term subordinated debt (1,125) (1,125) Adjusted Debt 41,089 42,960 Equity 18,149 17,185 A
Slide 16: High-Quality & Well-Diversified Portfolio
HIGH-QUALITY & WELL-DIVERSIFIED PORTFOLIO New technology assets comprise 76% of total fleet AIRCRAFT TYPE NUMBER OF ASSETS OWNED % NET BOOK VALUE © NUMBER OF ASSETS MANAGED + NUMBER OF ASSETS ON ORDER TOT, Airbus A220 Family 19 1% 6 = 25 Airbus A320neo Family 42 31% 29 176 626 Airbus A320 Family 365
Slide 17: Forward Orders and Purchase/Leasebacks
FORWARD ORDERS AND PURCHASE/LEASEBACKS AIRCRAFT TYPE 2025 2026 2027 2028 2029 THEREAFTER TOT. Airbus A320neo Family 13 32 36 31 27 37 176 Boeing 737 MAX 8 38 20 15 15 3 99 Boeing 787 1 11 S) - - - 15 Embraer 195-E2 7 5 - - - - 12 Other - - - - - 5 5 Grand Total 34 122 69 46 42 45 In October 2025, Ae
Slide 18: Endnotes
ENDNOTES SLIDE 4: Significant Activity Across Alll Business Lines Quarterly transactions shown are for AerCap's owned and managed fleet excluding SES transactions. SLIDE 6: 30 2025 Net Income Walk Purchase accounting adjustments consist of the amortization of maintenance rights and lease premium ass
Slide 19: AerCap
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