Slide 1: Fourth Quarter 2021 Financial Results
Fourth Quarter 2021 Financial Results AerCap Holdings N.V. March 30 , 2022
Slide 2: Disclaimer Incl. Forward Looking Statements & Safe Harbor
Disclaimer Incl. Forward Looking Statements & Safe Harbor This presentation contains certain statements, estimates and forecasts with Further information regarding these and other risks is included in AerCap's respect to future performance and events. These statements, estimates and annual report on
Slide 3: Key Highlights
Key Highlights AerCap’s exposure to Russia is manageable New business lines provide added diversification Combined business benefiting from a seamless integration and a backdrop of strengthening demand © AerCap | Confidential property of the company, not for disclosure or use without permission 3
Slide 4: Russian Aircraft Exposure Manageable
Russian Aircraft Exposure Manageable As a result of fleet diversification, Russian exposure is only 5% of our fleet value Russian Exposure by % NBV Key Points ~5% of our fleet by net book value was on lease to Russian airlines Russia, 5% as of December 31, 2021 Excluding Russia, narrowbodies mak
Slide 5: GECAS Acquisition Brings Diversification
GECAS Acquisition Brings Diversification New Business Lines AerCap Cargo AerCap Engines AerCap Materials AerCap Helicopters • Cargo team has more than 25 • World’s largest engine leasing • AerCap Materials is a global • Milestone Aviation provides years’ experience and a global company, with over 90
Slide 6: Financial Overview of Russian Exposure
Financial Overview of Russian Exposure Russian Exposure The net carrying value of our 135 owned aircraft and 14 owned . Potential Offsets engines on lease to Russian airlines was ~$3.1 billion as of ($bn) December 31, 2021 Net Book Value $3.3 Letters of Credit We had ~$260 million of letters of
Slide 7: Revenues and Other Income
Revenues and Other Income ($ million) 4Q 2021 4Q 2020 Basic lease rents increased primarily due to the impact of the GECAS Basic Lease Rents 1,283 885 acquisition Maintenance Rents and Other Receipts 97 110 Maintenance rents and other receipts for 4Q 2021 decreased Net Gain on Sale of Assets 25
Slide 8: Expenses
Expenses ($ million) 4Q 2021 4Q 2020 Depreciation and amortization Depreciation and Amortization 556 402 increased primarily due to a higher lease assets balance as a result of the GECAS acquisition Asset Impairment 6 27 Interest expense increased primarily Interest Expense 370 311 due to a high
Slide 9: 4Q Net Income and Earnings Per Share
4Q Net Income and Earnings Per Share ($ million, except per share amounts) 4Q 2021 4Q 2020 Net Income 89 28 Diluted Earnings Per Share 0.44 0.22 ($ million, except per share amounts) 4Q 2021 4Q 2020 Net Income 89 28 Transaction and Integration-related Expenses 139 − Income Tax Benefit (17) − Net
Slide 10: Full Year Net Income and Earnings Per Share
Full Year Net Income and Earnings Per Share ($ million, except per share amounts) FY 2021 FY 2020 Net Income (Loss) 1,001 (299) Diluted Earnings (Loss) Per Share 6.71 (2.34) ($ million, except per share amounts) FY 2021 FY 2020 Net Income (Loss) 1,001 (2.34) Transaction and Integration-related Exp
Slide 11: Strong Liquidity Position
Strong Liquidity Position Next 12 months’ sources-to-uses coverage of 2.2x, with ~$18 billion sources of liquidity Sources vs. Uses (Next 12 Months) (as of December 31, 2021) ($ billion) 18.0 ~$10 billion of excess cash coverage 16.5 4Q 2021 operating cash flow of $1.7 ~$5 15.0 billion Excess 13
Slide 12: GECAS Purchase Price Allocation
GECAS Purchase Price Allocation Transaction Consideration ($ billion) Fair Value 35.0 ($ Billion) Flight Equipment 24.4 $3.3 $30.2 30.0 Maintenance Rights Asset & Lease Premium Asset 4.0 $6.6 Equity 25.0 $1.0 Prepayments on Flight Equipment 3.0 Notes 20.0 Other Assets 2.3 $33.5 15.0 Accrued Maintena
Slide 13: GECAS Purchase Price Allocation (cont'd)
GECAS Purchase Price Allocation (cont’d) Under purchase accounting, we recorded all GECAS assets and liabilities at fair value on the acquisition closing date of November 1, 2021 Fair Purchase Price Allocation Value Basis of Calculation Amortization Period (billion) • Based on maintenance condition
Slide 14: AerCap Global Leader in Aviation
AERCAP Global Leader in Aviation
Slide 15: Supplemental Information
AERCAP Global Leader in Aviation Supplemental Information
Slide 16: High-Quality and Well-Diversified Portfolio
High-Quality and Well-Diversified Portfolio New technology aircraft comprise ~61% of aircraft fleet Number of % Net Number of Managed Number of Total Aircraft Type Owned Assets Book Value Assets On Order Assets Assets Passenger Aircraft 1,685 86% 189 417 2,291 Airbus A220 Family 1 0% − 10 11 Airbus
Slide 17: Forward Orders and Purchase/Leasebacks
Forward Orders and Purchase/Leasebacks Aircraft Type 2022 2023 2024 2025 2026 Thereafter Total Airbus A220 Family 7 3 - - - - 10 Airbus A320neo Family 58 63 51 48 28 17 265 Airbus A330neo Family 1 5 6 - - - 12 Boeing 737 MAX 6 15 18 21 7 - 67 Boeing 787 3 5 5 6 3 3 25 Embraer E190 / 195-E2 5 - 11 17
Slide 18: Capital Structure
Capital Structure Adjusted Debt/Equity Calculation ($ million) Dec. 31, 2021 Dec. 31, 2020 Debt (including fair value adjustments) 50,205 28,742 Adjusted for: Unrestricted cash & cash equivalents (1,729) (1,249) 50% equity credit for long-term subordinated debt (1,125) (1,125) Adjusted Debt 47,3
Slide 19: Endnotes
Endnotes SLIDE 11: Strong Liquidity Position Estimated cash capex includes expected cash payments for aircraft deliveries and pre-delivery payments during the next 12 months. SLIDE 12: GECAS Purchase Price Allocation GECAS net asset value includes a ~$0.4 billion benefit from a reduction in non-U.S.
Slide 20: AerCap House, Dublin
AerCap House T: +353 1 819 2010 65 St Stephens Green E: contact@aercap.com Dublin D02 YX20 W: aercap.com Ireland