AL Air Lease Corporation

On April 25, 2023, Air Lease Corporation (the “Company”) entered into the Eighth Amendment and Extension Agreement (the “Eighth Amendment) to the Second Amended and Restated Credit Agreement which amended and extended its unsecured revolving credit facility, dated as of May 5, 2014, with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders named therein (as previously amended and extended, and as further amended by the Eighth Amendment, the “Syndicated Unsecured Revolving Credit Facility”) whereby the Company, among other things, (i) extended the final maturity date from May 5, 2026 to May 5, 2027, (ii) amended the total revolving commitments thereunder to approximately $7.2 billion across 49 financial institutions as of May 5, 2023, and (iii) decreased the SOFR credit spread adjustment applicable to borrowings under the Syndicated Unsecured Revolving Credit Facility for all interest periods. No incremental borrowings were made by the Company at the closing of the Eighth Amendment.

Borrowings under the Syndicated Unsecured Revolving Credit Facility accrue interest at the Adjusted Term SOFR Rate (as defined in the Syndicated Unsecured Revolving Credit Facility) plus a margin of 1.05% per year. The Syndicated Unsecured Revolving Credit Facility also has a 0.20% per year facility fee in respect of the total commitments under the facility. The pricing of this facility is subject to increase or decrease based on declines or improvements in the credit ratings for the Company’s debt.

Under the Syndicated Unsecured Revolving Credit Facility, lenders hold revolving commitments totaling approximately $6.8 billion that mature on May 5, 2027, commitments totaling $320.0 million that mature on May 5, 2026, commitments totaling $32.5 million that mature on May 5, 2025 and commitments totaling $375.0 million that mature on May 5, 2023. Some of the lenders party to the Syndicated Unsecured Revolving Credit Facility and their affiliates have engaged in, and may in the future engage in, investment banking and other commercial dealings in the ordinary course of business with the Company or its affiliates. They have received, or may in the future receive, customary fees and commissions for these transactions.

The foregoing description of the Eighth Amendment is qualified in its entirety by reference to the complete text of the Eighth Amendment, which is filed as Exhibit 10.1 and incorporated herein by reference.