Slide 1: Financial Year 2026 Results
Financial Year 2026 Results 30 September 2026 Jeff Chatfield Andrew Hiscock Duncan Scott Tony Romano Ashley Nicholas Tim Bacchus Executive Chief Financial Group General Chief Commercial Corporate Finance Investor Relations Chairman Officer Counsel Officer Director Director Equity Ticker LSE: AVAP 1
Slide 2: Important Notice
Important Notice Some of the statements in this presentation constitute “forward-looking statements” that do not directly or exclusively relate to historical facts. These forward-looking statements reflect the Company’s current intentions, plans, expectations, assumptions and beliefs about future ev
Slide 3: Overview
avation PLC Overview
Slide 4: Snapshot (at 30 June 2026)
Snapshot (at 30 June 2026) 33 16 Airline 32%/59%/9% Credit ratings Aircraft Customers in of B/B1/B Turboprop/Narrowbody 16 Countries /Widebody by value S&P/Moody’s/Fitch 9.1 Years 3.8 Years US$1bn US$303m Average Average Remaining Unearned contracted Total asset value Aircraft Age Lease Term revenue
Slide 5: Portfolio
Portfolio Balanced fleet with Valuable Orderbook and Purchase Rights Aircraft Type By Net Book Value Current Purchase Aircraft Type Orders Fleet Rights Turboprop Aircraft Widebody 9% ATR 72-600 15 13 19 Turboprop ATR 72-500 4 - - 32% Narrowbody Aircraft A321-200 6 - - A320-200 3 - - A220-300 4 - - W
Slide 6: Customers
Customers 18 Airlines in 18 Countries (1) Airline Aircraft Number Vietjet A321-200 6 Air Baltic A220-300 4 Aerlink ATR 72-500 2 Cebu Pacific A320/ATR 72 2 Finnair ATR 72-600 2 PNG Air ATR 72-600 2 US-Bangla ATR 72-600 2 Alliance Air (India) ATR 72-600 2 Clic ATR 72-600 2 EVA Air A330-300 1 easyJet A
Slide 7: FY2026 Results
avation PLC FY2026 Results
Slide 8: Financial Highlights FY2026
Financial Highlights FY2026 Profitability & dividend • Group delivered a strong FY2026 profit of US$8.4 million • Net Asset Value per share up 19.9% to $4.39 (£3.33) • Increased dividend 50% to 1.5 US cents per share Unsecured Notes • Successfully issued US$300 million 8.5% notes due May 2031 and re
Slide 9: Operational Highlights FY2026
Operational Highlights FY2026 Aircraft deliveries/disposals • Delivered two ATR 72-600s from orderbook to new customer airlines • Sold one Boeing 777-300ER in September 2025 Aircraft transactions • Transitioned five ATR 72-600s to four customers on six- or eight-year leases • Extended EVA Air Airbus
Slide 10: FY2026 Financial Results
FY2026 Financial Results Total Income Profit after tax US$112.1 million US$8.4 million FY2025: $112.5 million FY2025: loss of $7.7 million Operating profit Total cash balances US$64.3 million US$105.0 million FY2025: $46.4 million FY2025: $130.0 million Net Indebtedness (1) NAV per Share US$523.7 mi
Slide 11: FY2026 Explanatory Notes
FY2026 Explanatory Notes Operating profit includes non-cash impact of revaluation of aircraft purchase rights FY2026 FY2025 Operating profit 64,281 46,444 Unrealised loss on aircraft purchase rights and pre- 1,442 21,643 delivery aircraft deposits paid Underlying Operating Profit 65,723 68,087 Profi
Slide 12: Debt Analysis
Debt Analysis FY2026 FY2025 Total loans and borrowings (US$ million) 576.1 652.3 Net indebtedness (US$ million) 523.7 604.2 Weighted average cost of debt 7.0% 6.6% Weighted average cost of secured debt 5.3% 5.2% Proportion of fixed/hedged interest rate debt 97.3% 84.2% Net debt/Total assets 52.3% 54
Slide 13: Key Ratios
Key Ratios Comparative Ratios FY2026 FY2025 Net asset value per share (US$) (1) $4.39 $3.66 Net asset value per share (£) £3.33 £2.67 Lease yield (2) 10.7% 11.3% Admin expense (ex-warrants)/Revenue 9.3% 7.9% Credit Ratios FY2026 FY2025 Debt/Equity 2.2x 2.7x Net Debt/EBITDA (3) 5.3X 5.6X FFO/Debt (4)
Slide 14: Liquidity Update
Liquidity Update FY2026 FY2025 Principal movements in cash • FY25 maintenance reserve & finance Operating cashflow $30.8m $91.5m lease inflows $49m Total cash $105.0m $130.0m • Aircraft and engine capex $49m Unrestricted $52.5m $48.1m • Share buybacks $15m • Bond repurchases $14m Restricted $52.5m $
Slide 15: Outlook & Strategy
avation PLC Outlook & Strategy
Slide 16: FY2027 Focus
FY2027 Focus • Take delivery and place new ATRs from our orderbook • Continue transition or renew leases on ATRs • Identify and secure opportunities to grow the narrowbody fleet in secondary channels • Transition or extend the airBaltic A220s • Continue to broaden the Group's funding and capital bas
Slide 17: Large ATR replacement opportunity
Large ATR replacement opportunity • ATR has no direct in-production competitor for its aircraft • Avation has 13 firm ATR 72 orders, the largest lessor backlog globally • Avation has purchase rights for 19 additional ATR aircraft 17 Source: ATR
Slide 18: Summary
Summary Return to profitability Robust liquidity and reduced net indebtedness Bond refinanced & new funding opportunities FY2027 new lease and transitions proceeding Orderbook provides fleet growth 18
Slide 19: Q & A
Q&A Avation PLC 65 Kampong Bahru Road Singapore 169370 Phone: + 65 6252 2077 www.avation.net Jeff Chatfield Andrew Hiscock Tony Romano Executive Chairman Chief Financial Officer Chief Commercial Officer jeff@avation.net andrew@avation.net tony@avation.net Duncan Scott Ashley Nicholas Tim Bacchus Gro