Avation (AVAP) Investor presentation summary

Strategic positioning and market environment

• Aircraft supply-demand imbalance and scarcity of listed pure-play lessors create favorable conditions for growth.

• Strong demand for aircraft projected through 2030, with APAC and Middle East driving global fleet expansion.

• Manufacturing delays and high aircraft retirement rates extend the profitable lifespan of mid-life aircraft, benefiting lessors.

• Market values for aircraft remain robust due to high demand and supply constraints.

• ATR turboprop segment offers significant replacement and growth opportunities, with no direct in-production competitor.

Fleet and customer diversification

• Fleet consists of 33 aircraft as of June 2026, with an average age of 8.8 years and a value of $993m.

• Orderbook includes 13 ATR 72-600s for delivery by 2029 and purchase rights for 19 more by 2034.

• Customer base spans 16 airlines in 16 countries, with a balanced mix of widebody, narrowbody, and turboprop aircraft.

• Four aircraft transitioned and two new aircraft delivered in FY2026, expanding customer relationships.

• Long-term partnerships established with 11 APAC airlines, supporting regional market strength.

Financial performance and capital management

• Total revenue reached $56m in HY2026, with robust operating profit growth and stable cashflow.

• Net asset value per share increased to $3.70 (USD) as of December 2025.

• Improved credit ratings (Moody's B1, Fitch B, S&P B) and deleveraged balance sheet with net indebtedness at $543m.

• Redeemed $298m bond and issued new $300m unsecured bond due 2031, extending debt maturity.

• Ongoing equity and debt buybacks, reducing outstanding shares by 21% since FY24.