Goldman Sachs China Conference 2021

Goldman Sachs China

Conference 2021

3 NOVEMBER 2021

Disclaimer

This presentation contains information about BOC Aviation Limited ("BOC Aviation"), current as at the date hereof or as at such earlier date as may be specified herein. This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of BOC Aviation or any of its subsidiaries or affiliates or any other person in any jurisdiction or an inducement to enter into investment activity and does not constitute marketing material in connection with any such securities.

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3Q 2021 Overview

STRONG ASSET

QUALITY

• 533 aircraft owned, managed and on order1
• 3.8 years2 average fleet age; 8.2 years2 average remaining lease term
• 99.0% aircraft utilization rate

• Closed US$935 million of unsecured syndicated credit facilities in August 2021

ROBUST • US$5.8 billion of liquidity3

LIQUIDITY

	• Nine aircraft deliveries in 3Q, 43 in
	2021 YTD
	• 27 lease commitments signed in
PROACTIVE	3Q, 53 in 2021 YTD
INVESTMENT	• 100% of aircraft scheduled for
STRATEGY	delivery before 2023 placed

A	• A- by S&P Global Ratings
STRONG CREDIT • A- by Fitch Ratings
RATINGS

27TH YEAR

OF

PROFITABILITY

• Focus on sustainable long-term earnings
• More than US$5 billion of cumulative profits since inception

EXPERIENCED

MANAGEMENT AND

OWNERSHIP

• Experienced management team successfully managed through multiple cycles
• Bank of China provides ongoing support

A resilient performance in a challenging environment

All data as at 30 September 2021 unless otherwise indicated

See Appendices - Endnotes

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How We Invest

Number of aircraft delivered, purchased and sold

Global				Opportunistic PLB
	European
Financial			acquisitions in the		Covid-19
	Crisis
Crisis			down cycle

									19	41
							24		13
							(3)	9	16	14	41
		45				27
					16			7	4		25
			22				6
			18		17
	14	31	21							43	22
	5				58	61
	12	6	5		41	44	48	50
(5)
	27	31
14	17	22	22							11	21
7
(12)	(12)	(3)	(10)	(10)	(6)	(21)						(28)	(12)	(11)
						(33)		(37)	(30)	(34)	(1)	(7)
							(43)
										(3)	(5)	(12)

(10)	(11)

High liquidity	Low liquidity	Low liquidity				High liquidity
			From orderbook			From PLB		Owned aircraft sold		Acquired by airline lessee at delivery

Investing in aircraft through multiple cycles

All data as at the end of the relevant period

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Popular and Fuel-Efficient Fleet

Our aircraft portfolio

Aircraft type	Owned aircraft	Managed aircraft	Aircraft on order1	Total
Airbus A320CEO family	107	15	0	122
Airbus A320NEO family	85	0	44	129
Airbus A330CEO family	12	1	0	13
Airbus A330NEO family	6	0	0	6
Airbus A350 family	9	0	0	9
Boeing 737NG family	74	14	0	88
Boeing 737 MAX family	40	0	45	85
Boeing 777-300ER	24	4	3	31
Boeing 777-300	0	1	0	1
Boeing 787 family	21	1	21	43
Freighters	5	1	0	6
Total	383	37	113	533

100% of orderbook comprises latest technology aircraft

All data as at 30 September 2021

See Appendices - Endnotes

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