BOC Aviation : Announcements and Notices - OPERATIONAL DATA FOR THE FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2020

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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

OPERATIONAL DATA FOR

THE FOURTH QUARTER AND YEAR ENDED 31 DECEMBER 2020

BOC Aviation Limited (the "Company") announces its operational transactions for the fourth quarter and year ended 31 December 2020 and as at 31 December 2020:

Robert Martin, Managing Director and Chief Executive Officer, said, "We are pleased to record a robust operational performance in 2020, executed in a challenging environment. We supported our airline customers and added high quality assets to our portfolio, including taking delivery of our 300th Boeing aircraft. During the year, we took delivery of 54 aircraft, 16 of which were delivered in December, and we sold 12 aircraft. We ended the year as the most valuable listed aircraft operating leasing company with a market capitalisation of US$6.0 billion."

As at year end, BOC Aviation had available liquidity of over US$5 billion comprising cash and undrawn credit facilities. Steven Townend, Deputy Managing Director and Chief Financial Officer, commented, "We continue to lead the industry with one of the best credit ratings, being A- from both S&P Global Ratings and Fitch Ratings, a young average fleet age of 3.5 years and a long average remaining lease term of 8.6 years."

Transactions Summary

• A total fleet of 553 aircraft owned, managed and on order1
• An average aircraft age of 3.5 years and an average remaining lease term of 8.6 years for the 358 owned aircraft fleet, weighted by net book value
• Order book of 155 aircraft1
• Took delivery of 25 aircraft in the fourth quarter of 2020, and 54 in 2020 (including one acquired by an airline customer on delivery)
• Signed 12 lease commitments and extensions in the fourth quarter of 2020, bringing the total for 2020 to 102
• Customer base of 87 airlines in 39 countries and regions in the owned and managed portfolios
• Sold two owned aircraft in the fourth quarter of 2020, which brought the total number of owned aircraft sold during the year to 12
• Owned aircraft utilisation at 99.6% for the full year, with one single aisle aircraft off lease as at year end and committed for lease
• Managed fleet comprised 40 aircraft, with three single aisle aircraft off lease, one of which has been committed for lease

• For identification purpose only

1

Portfolio as at 31 December 2020
	Owned		Managed		Aircraft
Aircraft Type	Aircraft		Aircraft		on Order1		Total
Airbus A320CEO family	112	15	0	127
Airbus A320NEO family	68	0	58	126
Airbus A330CEO family	12	3	0	15
Airbus A330NEO family	4	0	2	6
Airbus A350 family	9	0	0	9
Boeing 737NG family	80	15	0	95
Boeing 737 MAX family	24	0	70	94
Boeing 777-300ER	24	4	3	31
Boeing 777-300	0	1	0	1
Boeing 787 family	20	1	22	43
Freighters	5	1	0	6
Total	358	40	155	553

Note:

1. Includes all commitments to purchase aircraft including those where an airline customer has the right to acquire the relevant aircraft on delivery

Shareholders and potential investors are reminded that the above operational data are based on the Company's records and have not been audited or reviewed by the Company's auditors.

By Order of the Board

BOC Aviation Limited

Zhang Yanqiu Juliana

Company Secretary

Hong Kong, 6 January 2021

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

2