BOC Aviation : CHANGE OF DEPUTY MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER

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BOC AVIATION LIMITED

中 銀 航 空 租 賃 有 限 公 司*

(Incorporated in the Republic of Singapore with limited liability)

Stock Code: 2588

CHANGE OF DEPUTY MANAGING DIRECTOR AND

CHIEF FINANCIAL OFFICER

The board of Directors (the "Board") of BOC Aviation Limited (the "Company") announces that

1. Mr. Phang Thim Fatt will step down from his role as Deputy Managing Director and Chief Financial Officer on 30 September 2020 and (2) Mr. Steven Townend is appointed as Deputy Managing Director and Chief Financial Officer with effect from 1 October 2020.

Retirement of Deputy Managing Director and Chief Financial Officer

The Board announces that Mr. Phang Thim Fatt, Deputy Managing Director and Chief Financial Officer and a member of the Senior Management team, will step down from his role as Deputy Managing Director and Chief Financial Officer on 30 September 2020. Thereafter, Mr. Phang will remain with the Company to ensure a smooth handover to his successor until his retirement on 31 December 2020.

Appointment of Deputy Managing Director and Chief Financial Officer

The Board announces that Mr. Steven Townend is appointed as Deputy Managing Director and Chief Financial Officer with effect from 1 October 2020. He is currently a member of the Senior Management team in his role as Chief Commercial Officer (Europe, Americas and Africa), and will remain as a member of the Senior Management team in his new role.

Mr. Steven Townend, aged 50, is the Company's Chief Commercial Officer (Europe, Americas and Africa). Mr. Townend joined the Company in January 2001 and was appointed as the Chief Commercial Officer in July 2004. He was appointed to the additional role of Deputy Managing Director in June 2006. Mr. Townend has been based in London since 2014 and oversees all revenue activities in Europe, Americas and Africa. He will relocate back to Singapore before assuming his new role as Deputy Managing Director and Chief Financial Officer.

• For identification purpose only

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Mr. Townend has more than 28 years of banking and leasing experience, having previously worked with DVB Bank and NatWest Markets. Mr. Townend graduated from Loughborough University in the United Kingdom with an Honours Degree in Banking and Finance.

The Board wishes to take this opportunity to congratulate Mr. Steven Townend on his new role.

Change of Chief Commercial Officer (Europe, Americas and Africa)

The Company will announce the appointment of the successor Chief Commercial Officer (Europe, Americas and Africa) in due course.

By Order of the Board

BOC Aviation Limited

Zhang Yanqiu Juliana

Company Secretary

Hong Kong, 11 December 2019

As at the date of this announcement, the Board of Directors of the Company comprises Mr. Sun Yu as Chairman and Non-executive Director, Mr. Robert James Martin and Mr. Wang Jian as Executive Director, Mr. Li Mang, Mr. Liu Chenggang, Mr. Wang Zhiheng and Ms. Zhu Lin as Non-executive Directors and Dr. Dai Deming, Mr. Fu Shula, Mr. Antony Nigel Tyler and Dr. Yeung Yin Bernard as Independent Non-executive Directors.

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