First Half 2018 Resale Retail Transaction performance was better in Larger and Newer market groups and segments:

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1 For Immediate Release: AMSTAT releases latest Business Jet and Turbo Prop Resale Market Update for the first six months of 218 showing continued strength in Heavy Jet resale transactions and a tightening of aircraft inventories across all market segments. Tinton Falls, NJ August 9, 218: According to AMSTAT, of the Heavy Jet market group turned over in the first six months of the year, the best first six months in this group since 27. The report breaks the market into Heavy Jet (>=4, lbs), Medium Jet (2 4, lbs), Light Jet (<2, lbs) and Turbo Prop groups and then further reviews these groups using the following age segments: (<=1 years), (11 2 years) and (>2 years). Below we use the abbreviation H1 to describe the first half of the year. First Half 218 Resale Retail Transaction performance was better in Larger and market groups and segments: At a macro level, there were modest increases in the number of Jets and Turbo props sold in the first half of the year compared to 217 (see Historical Perspective charts 1 & 2), but the overall active population of these aircraft also increased. A more relevant comparison is to look at the percentage of the active fleet that sold by group and age segments (see Historical Perspective chart 3). Resale transaction activity in all Heavy Jet age segments performed better in H1 218 than in the same period in 217. In each Heavy Jet age segment the percentage of active fleet sold in H1 218 increased over H1 217 from: 4.2% to 5.7% in the segment, to 6.% in the segment, and 3.2% to 3.9% in the segment. In the Medium Jet group 5.1% of the fleet sold in H This matched transaction activity in the same period in 217 which itself outperformed the first six months of the previous two years. At a segment level only the Medium Jet segment performance in H1 218 beat the same 217. The Light Jet group did not perform as well with 4.8% of the fleet turning over in H1 218 versus 5.1% during the first six months of 217. Despite the overall Light Jet performance, 4.7% of the Light Jet age segment turned over in H1 218, exceeding 4.2% in H In the Turbo prop group, 3.9% of the fleet turned over in H1 218, modestly up from 3.8% during the same period the year before. The Turbo prop slightly underperformed H1 217 with 3.7% of the fleet turning over in H1 218 compared to 3.9% the year before. H1 218 transaction activity in the and Turbo prop groups exceeded transaction activity in these groups in H Most market groups and age segments are reporting inventories at their lowest in many years: At a macro level, 9.1% of the Business Jet fleet is for sale, the lowest overall percentage since 1998; and 7.2% of the Turbo prop fleet is for sale, a historical low in this market. Historical Perspective chart 3 shows that the gap between major inventory peaks and troughs during the last two industry cycles was approximately 6 years. The contraction since the peak in inventory in 29 has been running for 9 years so far. 1

2 Continued 6.8% of the Heavy Jet fleet is for sale compared to 9.% a year ago. This is the lowest percentage of Heavy Jets for sale since The greatest year over year contraction has occurred in the (from 9.% to 6.3%) and (from 7.6% to 5.2%) Heavy Jet segments. 9.2% of the Medium Jet fleet is for sale compared to 1.7% a year ago. This is the lowest percentage in this group since 2. The greatest year over year contraction occurred in the (from 11.6% to 9.6%) and (from 6.2% to 4.8%) Medium Jet segments. 1.7% of the Light Jet fleet is for sale compared to 11.7% a year ago. Contraction in the last 12 months has been particularly noticeable in the segment with 5.6% for sale today versus 7.9% a year ago. 7.2% of the Turbo prop fleet is currently for sale compared to 8.2% a year ago. This is the smallest amount of year over year contraction at the group level but a historical low for the Turbo prop market. The greatest year over year contraction in this market has been from 7.5% to 5.7% in the Turbo prop segment. The Average Asking Price data shows recent increases in the newer aircraft segments: The Average Asking Price for Heavy Jets is at $26.5M up 8.1% year over year and 17.7% year todate. As always, we caution that this is a very small population of aircraft and so the Average Asking Price metric for this segment can be moved considerably by only a few changes. In this case, the Average Asking Price for Heavy Jets jumped in June / July due to additions to the Gulfstream G65 and G65ER, Dassault Falcon 8X and Boeing Business Jet markets at asking prices that substantially moved the average. In contrast, the Average Asking Prices of and Heavy Jets have remained largely unchanged on a year over year and year to date basis. The Average Asking Price for Medium Jets is at $7.2M up 4.4% year to date, although off 3.1% year to date. In comparison, the and segments are off 16.9% and 9.5% year over year and 3.% and 4.2% year to date. The Average Asking Price for Light Jets is at $3.3M off 2.% year over year but up 4.8% year todate. In comparison, the Average Asking Price for Light Jets is up 5.2% year over year and up 9.8% year to date to $1.9M. The Average Asking Price for Light Jets is now below $7K. The Average Asking Price for Turbo props is up 11.1% year to date to $2.9M and up 5.4% yearover year. The Turbo prop Average Asking Price is flat year over year but up 4.4% year to date to $1.7M. Average Asking Prices for Light Jets continue to slide. About AMSTAT, Inc. AMSTAT is the leading provider of market research information and services to the corporate aviation industry. Founded in 1982, and based in Tinton Falls, NJ, AMSTAT introduced the concept of providing researched information to corporate aviation professionals. AMSTAT s mission is to provide timely, accurate, and objective market information to its customers. AMSTAT products and services provide aviation market and statistical information that generates revenue and delivers competitive advantage to brokers/dealers, finance companies, fractional providers, and suppliers of aircraft parts and services. 2

3 Business Jet & Turbo Prop Resale Market Report First 6 Months 218 Skurat on (US) x145 / chris@amstatcorp.com. 1. Business Jet Resale Retail Transactions (RRT) HISTORICAL PERSPECTIVE 2,25 2, 1,75 1,5 1,25 1, RRT Full Year Count RRT First 6 Months Count RRT as % of Active Fleet Business Turbo Prop Resale Retail Transactions (RRT) 2, 1,75 1,5 1,25 1, RRT Full Year Count RRT First 6 Months Count RRT as % of Active Fleet 2% 15% 1% 5% % 3. Business Jet & Turbo Prop Inventory as a Percentage of Active Fleet 2 9 Years and counting 1 1 ~ 6 Years ~ 6 Years Jets Turbo Props

4 Business Jet & Turbo Prop Resale Market Report First 6 Months 218 Skurat on (US) x145 / chris@amstatcorp.com. RESALE RETAIL TRANSACTIONS ( RRT ) First 6 Months 218 vs First 6 Months 217 Heavy Jets Medium Jets 7.% 6.% 4.% 3.% 2.% 1.% 4.2% 5.7% >2 years 6.% 11 2 years 217 H1 218 H1 3.2% 3.9% <=1 years 7.% 6.% 4.% 3.% 2.% 1.% 4.7% 5.2% 6.1% 5.9% 4.2% 4.% >2 years 11 2 years <=1 years 217 H1 218 H1 Heavy Jet RRT as % of Active Fleet. In the first 6 months of 218, the Heavy Jet group saw of the active population turnover. This was the best first half performance by this group since 27. All age segments saw improvement over the first 6 months of 217. Light Jets Medium Jet RRT as % of Active Fleet. With 5.1% Medium Jet turnover in the first 6 months this group matched its performance in the first half of 217. At an age segment level, only the Jets bested their first half 217 performance. Turbo Props 7.% 6.% 4.% 3.% 2.% 1.% 4.9% 4.5% >2 years 6.3% 5.5% 11 2 years 4.2% 4.7% <=1 years 7.% 6.% 4.% 3.% 2.% 1.% 3.5% 3.7% >2 years 4.4% 4.6% 11 2 years 3.9% 3.7% <=1 years 217 H1 218 H1 217 H1 218 H1 Light Jet RRT as % of Active Fleet. Overall transaction activity was slightly down for the Light Jet group in the first 6 months of 218 compared to 217 at 4.8% versus 5.1%. Only the Light Jets improved on the first half of Turbo Prop RRT as % of Active Fleet. The first half of 218 was flat compared to the same for period in 217 with 4.1% fleet turnover. At a segment level, the and segments showed year over year improvement.

5 Business Jet & Turbo Prop Resale Market Report First 6 Months 218 Skurat on (US) x145 / chris@amstatcorp.com. FOR SALE INVENTORY LAST 12 MONTHS Heavy Jets 1 Medium Jets Heavy Jet % of Active Fleet for Sale. As a percentage of active fleet, 6.8% of the Heavy Jets fleet is for sale the lowest level since In the last 12 months, contraction in this market was concentrated in the and segments.. Light Jets 1 1 >2 Years 11 2 Years <=1 Years Medium % of Active Fleet for Sale. There was inventory contraction in all Medium Jet age segments year over year. The Medium Jet inventory is currently at 4.8% of fleet, its lowest point since 28. Turbo Props 1 1 >2 Years 11 2 Years <=1 Years >2 Years 11 2 Years <=1 Years Light Jet % of Active Fleet for Sale. The inventory in all Light Jet segments contracted in the last 12 months. The greatest contraction year over year was in the Light Jet segment at 5.6% of the fleet for sale today versus 7.9% a year ago. 3 Old Tprops Mid Age Tprops Tprops Turbo Prop % of Active Fleet for Sale. All Turbo Prop segments saw a contraction in inventory year over year. of the Turbo Props are for sale. The greatest contraction year over year has been in the segment from 7.5% a year ago to 5.7% today.

6 Business Jet & Turbo Prop Resale Market Report First 6 Months 218 Skurat on (US) x145 / chris@amstatcorp.com. AVERAGE ASKING PRICES ($) LAST 12 MONTHS Heavy Jets Medium Jets $14M $12M $1M $8M $6M $28M $27M $26M $25M $24M $23M $22M $21M $3M $1M $9M $8M $7M $6M $5M >2 Years >2 Years 11 2 Years <=1 Years 11 2 Years <=1 Years Heavy Jet Average Asking Prices ($). The Average Asking Price for Heavy Jets increased 8.1% Y/Y and 17.7% YTD to $26.5M. The uptick in June/July is due to recent additions to the G65, G65ER, Falcon 8X and BBJ markets. Medium Jet Average Asking Prices ($). and Mid Age Medium Jets continue to see downward pressure. The segment was up 4.4% Y/Y but down 3.1% YTD to $7.2M today. Light Jets Turbo Props $2.5M $5M $2.M $2.M $1.5M $3M $1.5M $1.M $3M $1.M $.5M $1M $.5M $1M >2 Years >2 Years 11 2 Years <=1 Years 11 2 Years <=1 Years Light Jet Average Asking Prices ($). Y/Y only the Mid Age segment saw an increase (5.2%). YTD both the Mid Age and segments are up 9.8% and 4.8% to $1.9M and $3.3M respectively. Turbo Prop Average Asking Prices ($). The Average Asking Prices for Turbo Props declined Y/Y and YTD. Turbo prop Average Asking Prices are up 5.4% Y/Y and 11.1% YTD. 4