Air Lease Corporation has recently established a new office in Hong Kong to better serve its customers in the region. The Company has entered into a dual employment assignment with Mr. Jie Chen, Executive Vice President and Managing Director, Asia of the Company. Pursuant to his dual assignment, Mr. Chen will continue in this role as an employee of the Company.

Subject to the receipt of all approvals required to conduct business operations in Hong Kong, Mr. Chen will also be an employee of Air Lease Corporation Hong Kong Limited (ALC HK), a wholly owned subsidiary of the Company, as its President and a Director. In connection with his assignment in Hong Kong, ALC HK has entered into an employment agreement with Mr. Chen effective June 6, 2019, describing his employment with ALC HK (HK Employment Agreement).