Ftai Aviation Ltd. · NASDAQ:FTAI
Ftai Aviation — Q1 2026 Earnings Presentation
41 slides from Ftai Aviation's earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Earnings Supplement
FTAI AVIATION Q1 2026 Earnings Supplement April 2026 PROPRIETARY & CONFIDENTIAL
Slide 2: Disclaimers
Disclaimers IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” The information contained on, or accessible through, a
Slide 3: Our Mission
Our Mission B737NG & A320ceo ~$9BN of Aircraft FTAI (NASDAQ: FTAI) CFM56 & V2500 & Engine Assets(1) combines advanced turbine technology and CFM56 Aeroderivative 4 MRE Facilities asset ownership to power Remanufacturing 9 Locations(2) the world’s most essential markets 250+ Global 1,300+ Customer Ba
Slide 4: Q1 2026 Key Highlights
Q1 2026 Review Statement of Operations Q1 2026 Key Highlights USD MILLIONS Q1 2025 Q4 2025 Q1 2026 Strong performance driven by differentiated business model Aerospace Products(1) $130.9 $195.0 $222.6 $831 million Revenue Aviation Leasing(1) $162.0 $113.2 $153.0 Corporate & Other(1,3) $(24.3) $(31.0
Slide 5: FTAI’s Transformation is Focused on Leadership in Three Businesses
FTAI Overview FTAI’s Transformation is Focused on Leadership in Three Businesses(1) Aerospace Products Strategic Capital Power Business Aftermarket Engine Maintenance Asset Management Power Generation Vertical Business Sell, Exchange or Lease Engines Aircraft Lessor with engine Sell, Lease, or PPA(2
Slide 6: Business Highlights
FTAI Overview Business Highlights • Q1 2026 Net Income of $134M and $326M of Adjusted EBITDA(1) FTAI Overview Overview • Upsized revolver on April 24, 2026, from $400M to $2.025B with 15 lenders • Settled $44.6M in Russian insurance claims in Q1 2026 • Global production of 270 CFM56 modules in Q1 20
Slide 7: New Revolving Credit Facility
Q1 2026 Review Lender Syndicate New Revolving Credit Facility Role Lender Commitment Closed April 24, 2026 Admin Agent / JBR / JLA J.P. Morgan $200M Syndication Agent / JBR / JLA Morgan Stanley $200M $400M → $2.025B Syndication Agent / JBR / JLA Citi $200M Upsized RCF Capacity Syndication Agent / JB
Slide 8: Aerospace Products
FTAI AVIATION Aerospace Products
Slide 9: MRE Adoption Continues to Grow
Aerospace Products Update Annual CFM56 / V2500 Commercial MRO Demand(1) MRE Adoption Continues 2026E to Grow 12% 12% Market Share of CFM56 & V2500 Aftermarket(1) FTAI’S CURRENT ANNUALIZED ~$3B $25B MARKET SHARE 88% Targeting 25%+ 70% annual New and repeat Aerospace Products Adj. EBITDA(3) market sha
Slide 10: Significant Momentum in 2026 Global Production
Aerospace Products Update Significant Momentum in 2026 Global Production Module Production by Facility(1) Annual Production Outlook(1) Montreal Facility Miami Facilities(2) Total Facilities(3) European Production 2025A 2026E • Focus on major rebuilds versus high • Miami production includes new • Inc
Slide 11: Strategic Capital
FTAI AVIATION Strategic Capital
Slide 12: What is Strategic Capital?
Strategic Capital Update What is Strategic Capital? Investment Vehicles Vehicle Structure Investment Strategy 2025 SPV 20+ leading 1 Two Types of Aircraft institutional investors • $2.0 billion of equity commitments including $380 million from the FTAI balance sheet A320ceo 737NG • $3.5 billion ware
Slide 13: $1BN Warehouse Facility Upsize to Support Full Deployment
Strategic Capital Updates $1BN Warehouse Facility Upsize to Support Full Deployment Portfolio Construction Warehouse Financing Facility 292x PRIOR CAPACITY NEW TOTAL CAPACITY Aircraft Closed + LOI(1) 16 years $2.5B $1B UPSIZE $3.5B Average Aircraft Age(2) 2025 SPV Warehouse Facility 2025 SPV Warehou
Slide 14: FTAI Power
FTAI AVIATION
Slide 15: Key Competitive Advantages
FTAI Power Update Key Competitive Advantages(1) Speed to Power 25MW unit with a compact footprint, built for continuous operation and easy clustering Target mobile deployment in two weeks with minimal installation spend Scale Leverages FTAI’s existing 1MM+ square feet of maintenance and 1,000+
Slide 16: Partnership with Jereh Group Brings Package Speed and Scale
FTAI Power Partnership with Jereh Group Brings Package Speed and Scale Jereh Group Speed to Scale Fast Ramp & Volume Multiple production lines, factory-tested packages, mature supply chain One of the largest gas turbine mobile packagers Yantai, China · SZSE: 002353 · $19BN Market Capitalization(1) L
Slide 17: Capital Overview
FTAI AVIATION Capital a“ f Overview é
Slide 18: 2026 Adj. Free Cash Flow Update
Capital Overview On track to Target $1.2B Adj. free cash flow before new growth initiatives(2,3) 2026 Adj. Free • Generated $158 million in Adjusted Free Cash Flow in Q1 2026 Cash Flow • Recycled $154M in proceeds from Russian Claims and Aviation Asset Sales into $156M of strategic prepayments with
Slide 19: Capital Structure
Capital Overview Significant Growth in Adj. EBITDA(1) Generation Due to Operational Leverage Capital • Leverage multiple of 2.3x below target range of 2.5x – 3.0x Structure • Refinanced Corporate Revolver Facility on April 24, 2026 from $400 million to $2.025 billion • Total liquidity available of $
Slide 20: Business Segments
FTAI AVIATION Business os - Segments C.
Slide 21: Aerospace Products
Business Segments Innovative Maintenance Solutions for the CFM56 and V2500 Engines Aerospace • Generated $743.8 million in revenue, 104% growth versus $365.1 million in prior year Products • Annual growth of 70% in Adj. EBITDA(1) versus Q1 2025 • Q1 2026 includes $221.2 million in MRE Contract Reven
Slide 22: Aviation Leasing
Business Segments Continued Mix Shift Reflects Long-Term Focus on SCI and Engine Leasing Aviation • $153.0 million Adj. EBITDA for Q1 2026 including insurance recoveries of $44.6 million(1) Leasing • $25.0 million Strategic Capital Adj. EBITDA contribution including $5.9 million servicing fees and $
Slide 23: Corporate & Other
Business Segment Substantial Liquidity and Low Cost of Capital to Support Sustained Growth Corporate • $400M RCF undrawn as of March 31, 2026 and upsized to $2.025B as of April 24, 2026 & Other • 6.5% weighted average cost of $3.5B Senior Notes • Robust financial position with no corporate bond matu
Slide 24: End Notes
End Notes Slide Footnote Description 1. Includes approximately $3B total aircraft and engine assets owned by FTAI Aviation and a target AUM of $6B managed and to be managed through the Strategic Capital, including assets that will be acquired in the future by Strategic Capital. This is a forward-loo
Slide 25: End Notes
End Notes Slide Footnote Description 1. Based on management's estimates and may vary materially from actual results. 2. Production includes Q4 2025 Medley facility operations, including prior to December 2025 acquisition. 10 3. Rome facility is a joint venture. Q2 Rome production and headcount is as
Slide 26: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 27: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 28: Statement of Operations by Segment (unaudited)
Appendix Statement of Operations by Segment (unaudited) For the Three Months Ended March 31, 2026 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Revenues $ 743,815 $ 86,882 $ — $ — $ 830,697 Expenses Cost of sales 511,012 13,256 — — 524,268 Operating exp
Slide 29: Statement of Operations by Segment (unaudited)
Appendix Statement of Operations by Segment (unaudited) For the Three Months Ended March 31, 2025 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Revenues $ 365,063 $ 137,013 $ 4 $ — $ 502,080 Expenses Cost of sales 228,755 19,959 — — 248,714 Operating ex
Slide 30: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 31: Consolidated - Comparative Statements of Operations (unaudited)
Appendix Consolidated - Comparative Statements of Operations (unaudited) ($s in thousands) 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Revenues Aerospace products revenue $ 264,425 $ 420,686 $ 459,206 $ 456,139 $ 522,585 MRE Contract revenue 100,638 69,585 58,663 106,902 221,230 Lease income
Slide 32: Aerospace Products - Comparative Statements of Operations (unaudited)
Appendix Aerospace Products - Comparative Statements of Operations (unaudited) ($s in thousands) 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Revenues Aerospace products revenue $ 264,425 $ 420,686 $ 459,206 $ 456,139 $ 522,585 MRE contract revenue 100,638 69,585 58,663 106,902 221,230 Total r
Slide 33: Aviation Leasing - Comparative Statements of Operations (unaudited)
Appendix Aviation Leasing - Comparative Statements of Operations (unaudited) ($s in thousands) 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Revenues Lease income $ 68,440 $ 62,439 $ 55,072 $ 49,259 $ 39,892 Maintenance revenue 49,607 73,104 52,370 43,418 30,599 Asset sales revenue 18,939 47,91
Slide 34: Corporate and Other - Comparative Statements of Operations (unaudited)
Appendix Corporate and Other - Comparative Statements of Operations (unaudited) ($s in thousands) 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 Revenues Lease income $ — $ — $ — $ — $ — Other revenue 4 — — — — Total revenues $ 4 $ — $ — $ — $ — Expenses Operating expenses 19,325 14,250 18,401 2
Slide 35: Appendix
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 36: Condensed Balance Sheets
Appendix Condensed Balance Sheets (unaudited) ($s in thousands) March 31, 2026 December 31, 2025 Gross Property, Plant and Equipment (PP&E) $ 151,845 $ 145,206 Accumulated Depreciation on PP&E (29,709) (25,138) Net PP&E $ 122,136 $ 120,068 Gross Leasing Equipment 1,638,528 2,057,624 Accumulated Depr
Slide 37: Statement of Operations by Segment
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary
Slide 38: Adjusted EBITDA Reconciliation by Segment (unaudited)
Appendix Adjusted EBITDA Reconciliation by Segment (unaudited) For the Three Months Ended March 31, 2026 ($s in thousands) Aerospace Products Aviation Leasing Corporate and Other Eliminations Total Net income (loss) attributable to shareholders $ 183,735 $ 64,438 $ (103,983) $ (10,000) $ 134,190 Add
Slide 39: Notes to Non-GAAP Reconciliations - Adjusted EBITDA
Appendix Notes to Non-GAAP Reconciliations - Adjusted EBITDA ($s in thousands) (1) Total Includes the following items for the three months ended March 31, 2026 and 2025: (i) depreciation and amortization expense of $52,289 and $59,562, (ii) lease intangible amortization of $337 and $3,206 and (iii)
Slide 40: Statement of Operations by Segment
Appendix Statement of Operations by Segment Comparative Statements of Operations Condensed Balance Sheets Reconciliation of Non-GAAP Measures Glossary PROPRIETARY & CONFIDENTIAL
Slide 41: Glossary
Appendix Glossary Adjusted EBITDA In addition to net income (loss), the Chief Operating Decision Maker (“CODM”) utilizes Adjusted EBITDA as a key performance measure. Adjusted EBITDA is not a financial measure in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). This perfo