Standard Chartered announces today that, consistent with its business strategy outlined in February 2022, it intends to explore alternatives for the future ownership of its aviation finance business.

Standard Chartered's aviation finance business, which includes Pembroke, is a leading global aircraft leasing and financing operation. It manages a modern fleet of aircraft and serves airline and financial institution clients across North America, Europe, Asia, Africa and the Middle East. The aviation finance business represents around 2 per cent of total Group income and around 1 per cent of Group RWA.

Commenting on the announcement, Simon Cooper, Chief Executive Officer of Corporate, Commercial & Institutional Banking and Europe & Americas at Standard Chartered said: 'Our aviation finance business is an established global franchise with a differentiated track record of originating and servicing aircraft leasing and lending transactions, high-quality aircraft and loan portfolios, world-class airline relationships and a proven and respected management team. We believe that a new owner can drive the next phase of growth whilst we continue to focus on our commitment to improve shareholder returns and delivering on our 2024 targets.'

Standard Chartered is being supported by J.P. Morgan Securities plc as its financial advisor in connection with a potential transaction.

For further information please contact:

Gregg Powell

Head of Investor Relations

+44 (0) 20 7885 5172

Adnan Akhtar

Head of Sell-Side, Investor Relations

+44 (0) 20 7885 7255

Piers Townsend

Global Head, CCIB Communications

+65 9005 9067

Standard Chartered

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Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.

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