# EDGAR Filing Document

**Accession Number:** 0001487712
**File Stem:** 0001628280-26-032069
**Filing Date:** 2026-5
**Character Count:** 63602
**Document Hash:** f3285de5ed3dc1941766e0aafe87f791
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-032069.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001628280-26-032069

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 30

**CONFORMED PERIOD OF REPORT**: 20260507

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SUMISHO AIR LEASE CORP
- **CENTRAL INDEX KEY:** 0001487712
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-EQUIPMENT RENTAL & LEASING, NEC [7359]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 271840403
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35121
- **FILM NUMBER:** 26952997

**BUSINESS ADDRESS:**
- **STREET 1:** 2000 AVENUE OF THE STARS
- **STREET 2:** SUITE 1000N
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90067
- **BUSINESS PHONE:** (310) 553-0555

**MAIL ADDRESS:**
- **STREET 1:** 2000 AVENUE OF THE STARS
- **STREET 2:** SUITE 1000N
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90067

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIR LEASE CORP
- **DATE OF NAME CHANGE:** 20100916

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AIR LEASE Corp
- **DATE OF NAME CHANGE:** 20100323

?xml version='1.0' encoding='ASCII'? al-20260507

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF** 

**THE SECURITIES EXCHANGE ACT OF 1934**

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| |
|:---|
| **May 7, 2026** |
| **Date of Report**<br>**(Date of earliest event reported)** |

---

**SUMISHO AIR LEASE CORPORATION**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Delaware** | **001-35121** | **27-1840403** |
| (State or other jurisdiction of<br>incorporation) | (Commission File Number) | (I.R.S. Employer<br> Identification No.) |

---

---

| | | |
|:---|:---|:---|
| **2000 Avenue of the Stars,** | **Suite 1000N** | |
| **Los Angeles,** | **California** | **90067** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **(310) 553-0555** 

**Not Applicable**<br>(Former name or former address, if changed since last report.)<br>

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp; Results of Operations and Financial Condition.**

On May 7, 2026, Sumisho Air Lease Corporation (the "Company") issued a press release announcing its financial results for the three months ended March 31, 2026.

The information in this Item 2.02 and the related information in Exhibit 99.1 attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 7.01 &nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure.**

A copy of the Company's supplemental financial information for the three months ended March 31, 2026 is attached hereto as Exhibit 99.2 and is incorporated herein by reference. A copy of the supplemental financial information is also available on the "Investors" section of the Company's website at www.sumisho.aero.

The information in this Item 7.01 and the related information in Exhibit 99.2 attached hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

(d) *Exhibits*

<u>[Exhibit 99.1](ex-991q126.htm)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>[Press release dated](ex-991q126.htm)[May](ex-991q126.htm)[7](ex-991q126.htm)[, 2026](ex-991q126.htm)</u>

<u>[Exhibit 99.2](ex992-sumishoairleasepre.htm)</u>&nbsp;&nbsp;&nbsp;&nbsp;<u>[Suppl](ex992-sumishoairleasepre.htm)[emental financial information for the](ex992-sumishoairleasepre.htm)[three months](ex992-sumishoairleasepre.htm)[ended March 31, 2026](ex992-sumishoairleasepre.htm)</u>

Exhibit 104&nbsp;&nbsp;&nbsp;&nbsp;The cover page from this Current Report on Form 8-K formatted in Inline XBRL

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | |
|:---|:---|
| | SUMISHO AIR LEASE CORPORATION |
| Date: May 7, 2026 | */s/ Sabrina Lemmens* |
| | Sabrina Lemmens |
| | Chief Financial Officer  |

---

## Exhibit 99.1

**Exhibit 99.1**

![sumisho-airxleasexlogo.jpg](sumisho-airxleasexlogo.jpg)

**Sumisho Air Lease Announces First Quarter 2026 Results** 

**Los Angeles, California, May 7, 2026 — Sumisho Air Lease announces financial results for the three months ended March 31, 2026.**

**<u>First Quarter 2026 Results</u>**

The following table summarizes the operating results for Sumisho Air Lease Corporation (the "Company") for the three months ended March 31, 2026 and 2025 (in millions, except per share amounts and percentages):

***Operating Results***

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| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** | **$ change** | **% change** |
| Revenues | $739.2 | $738.3 | $0.9 | 0.1% |
| Operating expenses | (589.3) | (598.6) | 9.3 | (1.6)% |
| Recoveries of Russian fleet write-off |  | 331.9 | (331.9) |  |
| Income before taxes | 149.9 | 471.7 | (321.8) | (68.2)% |
| Net income attributable to common stockholders | $114.8 | $364.8 | $(250.0) | (68.5)% |
| Diluted earnings per share | $1.02 | $3.26 | $(2.24) | (68.7)% |
| Adjusted net income before income taxes<sup>(1)</sup> | $165.4 | $169.5 | $(4.1) | (2.4)% |
| Adjusted diluted earnings per share before income taxes<sup>(1)</sup> | $1.47 | $1.51 | $(0.04) | (2.6)% |

---

***Key Financial Ratios***

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| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| Pre-tax margin | 20.3% | 63.9% |
| Adjusted pre-tax margin<sup>(1)</sup> | 22.4% | 23.0% |

---

**——————————————————————**

(1) Adjusted net income before income taxes, adjusted diluted earnings per share before income taxes and adjusted pre-tax margin have been adjusted to exclude the effects of certain non-cash items and other items that we do not believe are indicative of our ongoing operations, such as retirement compensation, merger related costs, and recoveries related to our former Russian fleet. See note 1 under the Consolidated Statements of Income included in this earnings release for a discussion of the non-GAAP measures and a reconciliation to their most comparable GAAP financial measures.

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**<u>Highlights</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• On April 8, 2026, Air Lease Corporation completed the previously announced merger (the "Merger") of Takeoff Merger Sub Inc., with and into Air Lease Corporation, with Air Lease Corporation surviving the Merger as an indirect subsidiary of Sumisho Air Lease Corporation Designated Activity Company ("Parent"). Parent is a new holding company established in connection with the Merger and is jointly owned, directly or indirectly, by Sumitomo Corporation, SMBC Aviation Capital Limited ("SMBC AC") and investment vehicles affiliated with Apollo managed funds and Brookfield. Air Lease Corporation changed its name to Sumisho Air Lease Corporation in connection with the Merger.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• During the first quarter, we took delivery of 12 aircraft from our orderbook, representing $780 million in aircraft investments, ending the period with 496 aircraft in our owned fleet and over $33 billion in total assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sold six aircraft during the first quarter for $275 million in sales proceeds.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• We have $5.6 billion of aircraft in our sales pipeline<sup>1</sup>, which includes approximately $940 million in flight equipment held for sale as of March 31, 2026 and approximately $4.6 billion of aircraft subject to letters of intent.

**<u>Financial Overview</u>**

***First Quarter 2026 vs. First Quarter 2025***

Our total rental of flight equipment revenue for the three months ended March 31, 2026 increased by approximately 4%, to $674 million, as compared to the three months ended March 31, 2025. The increase is primarily due to the growth of our flight equipment subject to operating leases since March 31, 2025 and an increase in our portfolio lease yield.

Our gain on aircraft sales and trading and other income decreased to $65 million for the three months ended March 31, 2026, as compared to $93 million for the three months ended March 31, 2025, which was primarily driven by lower sales activity. During the three months ended March 31, 2026, we recorded $53 million in gains from the sale of six aircraft, compared to $61 million in gains from the sale of 16 aircraft and $8 million from one sales-type lease for the three months ended March 31, 2025. In addition, we had a $8 million decrease in management fee revenue and a $4 million decrease in other income, which includes interest income, foreign currency fluctuations on our sales-type leases and other miscellaneous income from the prior year period.

Our total operating expenses decreased by 2% to $589 million during the three months ended March 31, 2026, as compared to $599 million of total operating expenses, excluding the recovery of our Russian fleet write-off of $332 million, during the three months ended March 31, 2025. Despite the increase in our composite cost of funds, our interest expense decreased by $8 million due to lower average debt balances during the period. In addition, although we incurred $9 million in merger-related costs during the first quarter of 2026, this was largely offset by non-recurring retirement expenses for our former executive chairman recognized during the first quarter of 2025, resulting in our selling, general and administrative expenses to be relatively flat as compared to the prior year period. Depreciation expense for the three months ended March 31, 2026, compared to the three months ended March 31, 2025 increased $11 million due to the growth of our fleet.

Our net income attributable to common stockholders for the three months ended March 31, 2026 decreased to $115 million, or $1.02 per diluted share, from $365 million, or $3.26 per diluted share, for the three months ended March 31, 2025. In the prior year, we benefited from a $332 million settlement of insurance claims with certain insurers related to aircraft detained in Russia, as well as higher gains on sales, resulting in a decrease in our net income attributable to common stockholders in the current period. These were slightly offset by higher total rental of flight equipment revenue in the current period and an overall decrease in our total operating expenses, as discussed above.

For the three months ended March 31, 2026, we recorded adjusted net income before income taxes of $165 million, or $1.47 per adjusted diluted share, as compared to adjusted net income before income taxes of $169 million, or $1.51 per adjusted diluted share, for the three months ended March 31, 2025. Despite the increase in our rental revenues due to the growth of our fleet and higher portfolio lease yield in the current period, our adjusted net income decreased primarily due to lower sales activity and an increase in depreciation expense, partially offset by a decrease in interest expense due to lower average debt balances during the period.

**<u>Flight Equipment Portfolio</u>**

As of March 31, 2026, the net book value of our flight equipment subject to operating leases was $28.9 billion, compared to $29.1 billion as of December 31, 2025. During the quarter, we reclassified $628.9 million in aircraft value to flight equipment held for sale, resulting in a decrease in the net book value of our fleet. As of March 31, 2026, we owned 496 aircraft in our aircraft portfolio, comprised of 357 narrowbody aircraft and 139 widebody aircraft, and we managed 40 aircraft. The weighted average fleet age and weighted average

<sup>1</sup> Aircraft in our sales pipeline is as of March 31, 2026, and includes letters of intent and sale agreements signed through May 7, 2026.

------

remaining lease term of flight equipment subject to operating leases as of March 31, 2026 was 5.0 years and 7.2 years, respectively. We had a globally diversified customer base comprised of 103 airlines in 52 countries as of March 31, 2026.

The following table summarizes the key portfolio metrics of our fleet as of March 31, 2026 and December 31, 2025:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| Net book value of flight equipment subject to operating leases | $28.9 | billion | $29.1 | billion |
| Weighted-average fleet age<sup>(1)</sup> | 5.0 years | 5.0 years | 4.9 years | 4.9 years |
| Weighted-average remaining lease term<sup>(1)</sup> | 7.2 years | 7.2 years | 7.2 years | 7.2 years |
| Owned fleet<sup>(2)</sup> | 496 | 496 | 490 | 490 |
| Managed fleet<sup>(3)</sup> | 40 | 40 | 45 | 45 |
| Aircraft on order<sup>(4)</sup> | 206 | 206 | 218 | 218 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 742 | 742 | 753 | 753 |
| &nbsp;&nbsp;&nbsp;&nbsp;Current fleet contracted rentals | $19.2 | billion | $19.6 | billion |
| &nbsp;&nbsp;&nbsp;Committed fleet rentals<sup>(4)</sup> | $8.6 | billion | $9.3 | billion |
| &nbsp;&nbsp;&nbsp;&nbsp;Total committed rentals | $27.8 | billion | $28.9 | billion |
| (1) Weighted-average fleet age and remaining lease term calculated based on net book value of our flight equipment subject to operating leases. | (1) Weighted-average fleet age and remaining lease term calculated based on net book value of our flight equipment subject to operating leases. | (1) Weighted-average fleet age and remaining lease term calculated based on net book value of our flight equipment subject to operating leases. | (1) Weighted-average fleet age and remaining lease term calculated based on net book value of our flight equipment subject to operating leases. | (1) Weighted-average fleet age and remaining lease term calculated based on net book value of our flight equipment subject to operating leases. |
| (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively.  | (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively.  | (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively.  | (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively.  | (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively.  |
| (3) We will continue to manage our managed fleet after the Merger; however, certain services for the aircraft and leases will be subserviced by SMBC AC. | (3) We will continue to manage our managed fleet after the Merger; however, certain services for the aircraft and leases will be subserviced by SMBC AC. | (3) We will continue to manage our managed fleet after the Merger; however, certain services for the aircraft and leases will be subserviced by SMBC AC. | (3) We will continue to manage our managed fleet after the Merger; however, certain services for the aircraft and leases will be subserviced by SMBC AC. | (3) We will continue to manage our managed fleet after the Merger; however, certain services for the aircraft and leases will be subserviced by SMBC AC. |
| (4) On April 8, 2026, in connection with the closing of the Merger, SMBC AC acquired the rights to our outstanding orderbook for undelivered aircraft. For further discussion on the Merger see our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. | (4) On April 8, 2026, in connection with the closing of the Merger, SMBC AC acquired the rights to our outstanding orderbook for undelivered aircraft. For further discussion on the Merger see our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. | (4) On April 8, 2026, in connection with the closing of the Merger, SMBC AC acquired the rights to our outstanding orderbook for undelivered aircraft. For further discussion on the Merger see our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. | (4) On April 8, 2026, in connection with the closing of the Merger, SMBC AC acquired the rights to our outstanding orderbook for undelivered aircraft. For further discussion on the Merger see our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. | (4) On April 8, 2026, in connection with the closing of the Merger, SMBC AC acquired the rights to our outstanding orderbook for undelivered aircraft. For further discussion on the Merger see our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026. |

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The following table details the regional concentration of our flight equipment subject to operating leases:

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| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| **Region** | **% of Net Book Value** | **% of Net Book Value** |
| Europe | 39.2% | 39.1% |
| Asia Pacific | 36.9% | 36.5% |
| Central America, South America, and Mexico | 10.5% | 10.7% |
| The Middle East and Africa | 7.1% | 7.8% |
| U.S. and Canada | 6.3% | 5.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 100.0% | 100.0% |

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The following table details the composition of our owned fleet by aircraft type:

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| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| **Aircraft type** | **Number of<br>Aircraft** | **% of Total** | **Number of<br>Aircraft** | **% of Total** |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A220-100 | 9 | 1.8% | 8 | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A220-300 | 34 | 6.9% | 33 | 6.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A320-200 | 16 | 3.2% | 17 | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A320-200neo | 20 | 4.0% | 23 | 4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A321-200 | 17 | 3.4% | 17 | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A321-200neo | 112 | 22.6% | 109 | 22.2% |
| &nbsp;&nbsp;&nbsp;Airbus A330-200<sup>(1)</sup> | 13 | 2.6% | 13 | 2.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A330-300 | 5 | 1.0% | 5 | 1.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A330-900neo | 28 | 5.6% | 28 | 5.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A350-900 | 17 | 3.4% | 17 | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Airbus A350-1000 | 8 | 1.6% | 8 | 1.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Boeing 737-800 | 37 | 7.5% | 38 | 7.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Boeing 737-8 MAX | 76 | 15.3% | 71 | 14.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Boeing 737-9 MAX | 35 | 7.1% | 35 | 7.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Boeing 777-200ER | 1 | 0.2% | 1 | 0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Boeing 777-300ER | 23 | 4.6% | 23 | 4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;Boeing 787-9 | 26 | 5.2% | 26 | 5.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Boeing 787-10 | 18 | 3.7% | 17 | 3.5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Embraer E190 | 1 | 0.3% | 1 | 0.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total<sup>(2)</sup>  | 496 | 100.0% | 490 | 100.0% |
| (1) As of March 31, 2026 and December 31, 2025, aircraft count includes three Airbus A330-200 aircraft classified as freighters, respectively. | (1) As of March 31, 2026 and December 31, 2025, aircraft count includes three Airbus A330-200 aircraft classified as freighters, respectively. | (1) As of March 31, 2026 and December 31, 2025, aircraft count includes three Airbus A330-200 aircraft classified as freighters, respectively. | (1) As of March 31, 2026 and December 31, 2025, aircraft count includes three Airbus A330-200 aircraft classified as freighters, respectively. | (1) As of March 31, 2026 and December 31, 2025, aircraft count includes three Airbus A330-200 aircraft classified as freighters, respectively. |
| (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively. | (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively. | (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively. | (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively. | (2) As of March 31, 2026 and December 31, 2025, our owned fleet count included 25 and 12 aircraft classified as flight equipment held for sale, respectively, and 17 and 16 aircraft classified as net investments in sales-type leases, respectively. |

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**<u>Debt Financing Activities</u>**

Our total debt financing, net of discounts and issuance costs, was $20.8 billion, $19.8 billion and $19.7 billion as of April 30, 2026, March 31, 2026 and December 31, 2025, respectively. As of April 30, 2026, March 31, 2026, and December 31, 2025, 78.8%, 67.6% and 76.8% of our total debt financing was at a fixed rate, respectively and 99.2% and 97.9% and 97.5% was unsecured. Our composite cost of funds was 4.33%, 4.29% and 4.15% as of April 30, 2026, March 31, 2026 and December 31, 2025, respectively. We ended the quarter with total liquidity of $5.4 billion.

As of the end of the periods presented, our debt portfolio was comprised of the following components (dollars in millions, except percentages):

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| | | | |
|:---|:---|:---|:---|
| | **April 30, 2026** | **March 31, 2026** | **December 31, 2025** |
| &nbsp;&nbsp;&nbsp;**Unsecured** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior unsecured securities | 16417 | 12390 | 13861 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term financings | 4244 | 3607 | 3847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial paper |  | 1046 | 1361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Revolving credit facility |  | 2470 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other revolving credit facilities |  |  | 300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total unsecured debt financing | 20661 | 19513 | 19369 |
| &nbsp;&nbsp;&nbsp;**Secured** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Term financings |  | 255 | 318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Export credit financing | 169 | 171 | 175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total secured debt financing | 169 | 426 | 493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total debt financing | 20830 | 19939 | 19862 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Debt discounts and issuance costs | (49) | (120) | (132) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Debt financing, net of discounts and issuance costs** | 20781 | 19819 | 19730 |
| **Selected interest rates and ratios:** |  |  |  |
| &nbsp;&nbsp;Composite interest rate<sup>(1)</sup> | 4.33% | 4.29% | 4.15% |
| &nbsp;&nbsp;Composite interest rate on fixed-rate debt<sup>(1)</sup> | 4.18% | 4.02% | 3.91% |
| &nbsp;&nbsp;&nbsp;Percentage of total debt at a fixed-rate | 78.81% | 67.57% | 76.85% |
| (1) This rate does not include the effect of upfront fees, facility fees, undrawn fees or amortization of debt discounts and issuance costs. | (1) This rate does not include the effect of upfront fees, facility fees, undrawn fees or amortization of debt discounts and issuance costs. | (1) This rate does not include the effect of upfront fees, facility fees, undrawn fees or amortization of debt discounts and issuance costs. | (1) This rate does not include the effect of upfront fees, facility fees, undrawn fees or amortization of debt discounts and issuance costs. |

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**Conference Call**

In connection with this earnings release, Sumisho Air Lease will host a conference call on May 7, 2026 at 4:30 PM Eastern Time to discuss the Company's financial results for the first quarter of 2026.

Investors can participate in the conference call by dialing 1 (800) 715-9871 domestic or 1 (646) 307-1963 international. The passcode for the call is 5685809.

The conference call will also be broadcast live through a link on the Investors page of the Sumisho Air Lease website at <u>www.sumisho.aero</u>. Materials presented during the conference call will also be posted on the Sumisho Air Lease website. Please visit the website at least 15 minutes prior to the call to register, download and install any necessary audio software. A transcript of the conference call will be available on the Investors page of the Sumisho Air Lease website for a period of 12 months following the conference call.

**About Sumisho Air Lease&nbsp;&nbsp;&nbsp;&nbsp;**

Sumisho Air Lease Corporation is a leading global aircraft leasing company acquired by Sumitomo Corporation, SMBC Aviation Capital, and investment vehicles affiliated with Apollo and Brookfield in April 2026. The company is principally engaged in leasing liquid and new technology aircraft to airlines throughout the world. Sumisho Air Lease routinely posts information that may be important to investors in the "Investors" section of its website at <u>www.sumisho.aero</u>. Investors and potential investors are encouraged to consult Sumisho Air Lease's website regularly for important information. The information contained on, or that may be accessed through, Sumisho Air Lease's website is not incorporated by reference into, and is not a part of, this press release.

**Contact**

---

| |
|:---|
| **Investors:** |
| Jason Arnold<br>Vice President, Investor Relations<br>Email: investors@sumisho.aero |
| **Media:** |
| Ashley Arnold<br>Senior Manager, Media and Investor Relations <br>Email: press@sumisho.aero |

---

------

**Forward-Looking Statements**

This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements appear in a number of places in this press release and include statements regarding, among other matters, the state of the airline industry, our ability to access the capital and debt markets, our aircraft sales pipeline and expectations, changes in inflation and interest rates and other macroeconomic conditions and other factors affecting our financial condition or results of operations. Words such as "can," "could," "may," "predicts," "potential," "will," "projects," "continuing," "ongoing," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and "should," and variations of these words and similar expressions, are used in many cases to identify these forward-looking statements. Any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and other factors that may cause our actual results, performance or achievements, or industry results to vary materially from our future results, performance or achievements, or those of our industry, expressed or implied in such forward-looking statements. Such factors include, among others:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our inability to obtain additional capital on favorable terms, or at all, to service our debt obligations and refinance maturing debt obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increases in our cost of borrowing, decreases in our credit ratings or changes in interest rates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our inability to generate sufficient returns on our aircraft investments through strategic aircraft acquisitions and profitable leasing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• obsolescence of, or changes in overall demand for, our aircraft;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the value of, and lease rates for, our aircraft, including as a result of aircraft oversupply, manufacturer production levels, our lessees' failure to maintain our aircraft, inflation, and other factors outside of our control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• impaired financial condition and liquidity of our lessees, including due to lessee defaults and reorganizations, bankruptcies or similar proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• potential conflicts of interest with SMBC AC, as servicer of the majority of our aircraft;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increased competition from other aircraft lessors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the failure by our lessees to adequately insure our aircraft or fulfill their contractual indemnity obligations to us, or the failure of such insurers to fulfill their contractual obligations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• increased tariffs and other restrictions on trade;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the regulatory environment, including changes in tax laws and environmental regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other events affecting our business or the business of our lessees and aircraft manufacturers or their suppliers that are beyond our or their control, such as the threat or realization of epidemic diseases, natural disasters, terrorist attacks, war or armed hostilities between countries or non-state actors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any additional factors discussed under "Part II — Item 1A. Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and other Securities and Exchange Commission ("SEC") filings, including future SEC filings.

All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations. You are therefore cautioned not to place undue reliance on such statements. Any forward-looking statement speaks only as of the date on which it is made, and we do not intend and undertake no obligation to update any forward-looking information to reflect actual results or events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

###

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**Sumisho Air Lease Corporation and Subsidiaries**

**CONSOLIDATED BALANCE SHEETS**

**(In thousands, except share and par value amounts)**

---

| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| | **(in thousands, except share and par value amounts)** | **(in thousands, except share and par value amounts)** |
| **Assets** | | |
| Cash and cash equivalents | $554062 | $466410 |
| Restricted cash | 502 | 3540 |
| Flight equipment subject to operating leases | 35732476 | 35880458 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less accumulated depreciation | (6857633) | (6826828) |
|  | 28874843 | 29053630 |
| Net investment in sales-type leases | 462797 | 460806 |
| Deposits on flight equipment purchases | 1081857 | 1052141 |
| Flight equipment held for sale | 940330 | 529016 |
| Other assets | 1253889 | 1318150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $33168280 | $32883693 |
| **Liabilities and Stockholders' Equity** |  |  |
| Accrued interest and other payables | $1063515 | $1012345 |
| Debt financing, net of discounts and issuance costs | 19819195 | 19730129 |
| Security deposits on flight equipment leases | 618667 | 622556 |
| Maintenance reserves on flight equipment leases | 1542339 | 1477046 |
| Rentals received in advance | 127109 | 143631 |
| Deferred tax liability | 1448357 | 1425230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | $24619182 | $24410937 |
| **Stockholders' Equity** |  |  |
| Preferred Stock, $0.01 par value; 50,000,000 shares authorized; 900,000 (aggregate liquidation preference of $900,000) shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively | 9 | 9 |
| Class A common stock, $0.01 par value; 500,000,000 shares authorized; 112,415,671 and 112,035,408 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively  | 1124 | 1120 |
| Class B Non-Voting common stock, $0.01 par value; 10,000,000 shares authorized; no shares issued or outstanding  |  |  |
| Paid-in capital | 3372554 | 3383414 |
| Retained earnings | 5183013 | 5092929 |
| Accumulated other comprehensive (loss) | (7602) | (4716) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total stockholders' equity** | $8549098 | $8472756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and stockholders' equity** | $33168280 | $32883693 |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

**Sumisho Air Lease Corporation and Subsidiaries**

**CONSOLIDATED STATEMENTS OF INCOME** 

**(In thousands, except share and per share amounts)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| | **(unaudited)** | **(unaudited)** |
| &nbsp;&nbsp;**Revenues and other income** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Rental of flight equipment revenue |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease rentals | $666675 | $637233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maintenance rentals and other receipts | 7241 | 8137 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total rental of flight equipment revenue | 673916 | 645370 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on aircraft sales and trading and other income | 65307 | 92912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenues and other income | 739223 | 738282 |
| &nbsp;&nbsp;**Expenses** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest | 201844 | 208574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of debt discounts and issuance costs | 12408 | 13995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 214252 | 222569 |
| &nbsp;&nbsp;&nbsp;Depreciation of flight equipment | 309783 | 299019 |
| &nbsp;&nbsp;&nbsp;Recoveries of Russian fleet write-off |  | (331938) |
| &nbsp;&nbsp;&nbsp;Selling, general and administrative | 60191 | 59348 |
| &nbsp;&nbsp;&nbsp;Stock-based compensation expense | 5096 | 17616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total expenses | 589322 | 266614 |
| &nbsp;&nbsp;**Income before taxes** | 149901 | 471668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | (24005) | (95836) |
| &nbsp;&nbsp;**Net income** | $125896 | $375832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends | (11081) | (11081) |
| &nbsp;&nbsp;**Net income attributable to common stockholders** | $114815 | $364751 |
| &nbsp;&nbsp;**Earnings per share of common stock:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.03 | $3.27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | $1.02 | $3.26 |
| &nbsp;&nbsp;**Weighted-average shares of common stock outstanding** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 111936166 | 111549903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 112484656 | 112030382 |
| &nbsp;&nbsp;**Other financial data** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-tax margin | 20.3% | 63.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted net income before income taxes<sup>(1)</sup> | $165412 | $169490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted diluted earnings per share before income taxes<sup>(1)</sup> | $1.47 | $1.51 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted pre-tax margin<sup>(1)</sup> | 22.4% | 23.0% |

---

(1)Adjusted net income before income taxes (defined as net income attributable to common stockholders excluding the effects of certain non-cash items and other items that we do not believe are indicative of our ongoing operations, such as retirement compensation, merger related costs and recoveries related to our former Russian fleet), adjusted pre-tax margin (defined as adjusted net income before income taxes divided by total revenues) and adjusted diluted earnings per share before income taxes (defined as adjusted net income before income taxes divided by the weighted average diluted common shares outstanding) are measures of operating performance that are not defined by GAAP and should not be considered as an alternative to net income attributable to common stockholders, pre-tax margin, earnings per share and diluted earnings per share, or any other performance measures derived in accordance with GAAP. Adjusted net income before income taxes, adjusted pre-tax margin and adjusted diluted earnings per share before income taxes are presented as supplemental disclosure because management believes they provide useful information on our earnings from ongoing operations.

------

**Sumisho Air Lease Corporation and Subsidiaries**

**CONSOLIDATED STATEMENTS OF INCOME** 

**(In thousands, except share and per share amounts)**

Management and our board of directors use adjusted net income before income taxes, adjusted pre-tax margin and adjusted diluted earnings per share before income taxes to assess our consolidated financial and operating performance. Management believes these measures are helpful in evaluating the operating performance of our ongoing operations and identifying trends in our performance, because they remove the effects of certain non-cash items and other items that we do not believe are indicative of our ongoing operations. Adjusted net income before income taxes, adjusted pre-tax margin and adjusted diluted earnings per share before income taxes, however, should not be considered in isolation or as a substitute for analysis of our operating results or cash flows as reported under GAAP. Adjusted net income before income taxes, adjusted pre-tax margin and adjusted diluted earnings per share before income taxes do not reflect our cash expenditures or changes in our cash requirements for our working capital needs. In addition, our calculation of adjusted net income before income taxes, adjusted pre-tax margin and adjusted diluted earnings per share before income taxes may differ from the adjusted net income before income taxes, adjusted pre-tax margin and adjusted diluted earnings per share before income taxes or analogous calculations of other companies in our industry, limiting their usefulness as a comparative measure.

The following table shows the reconciliation of the numerator for adjusted pre-tax margin (in thousands, except percentages):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2026** | **2025** | **2025** |
| | **(unaudited)** | **(unaudited)** | **(unaudited)** | **(unaudited)** |
| **Reconciliation of the numerator for adjusted pre-tax margin (net income attributable to common stockholders to adjusted net income before income taxes):** |  |  |  |  |
| Net income attributable to common stockholders | $| 114815 | $| 364751 |
| Amortization of debt discounts and issuance costs | 12408 | 12408 | 13995 | 13995 |
| Recoveries of Russian fleet write-off |  |  | (331938) | (331938) |
| Stock-based compensation expense | 5096 | 5096 | 17616 | 17616 |
| Retirement compensation expense |  |  | 9230 | 9230 |
| Merger related costs | 9088 | 9088 |  |  |
| Income tax expense | 24005 | 24005 | 95836 | 95836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted net income before income taxes | $| 165412 | $| 169490 |
| **Denominator for adjusted pre-tax margin:** |  |  |  |  |
| Total revenues | $| 739223 | $| 738282 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted pre-tax margin<sup>(a)</sup> | 22.4% | 22.4% | 23.0% | 23.0% |
| (a) Adjusted pre-tax margin is adjusted net income before income taxes divided by total revenues. | (a) Adjusted pre-tax margin is adjusted net income before income taxes divided by total revenues. | (a) Adjusted pre-tax margin is adjusted net income before income taxes divided by total revenues. | (a) Adjusted pre-tax margin is adjusted net income before income taxes divided by total revenues. | (a) Adjusted pre-tax margin is adjusted net income before income taxes divided by total revenues. |

---

------

**Sumisho Air Lease Corporation and Subsidiaries**

**CONSOLIDATED STATEMENTS OF INCOME** 

**(In thousands, except share and per share amounts)**

The following table shows the reconciliation of the numerator for adjusted diluted earnings per share before income taxes (in thousands, except share and per share amounts):

---

| | | |
|:---|:---|:---|
| | **Three Months Ended<br>March 31,** | **Three Months Ended<br>March 31,** |
| | **2026** | **2025** |
| | **(unaudited)** | **(unaudited)** |
| **Reconciliation of the numerator for adjusted diluted earnings per share (net income attributable to common stockholders to adjusted net income before income taxes):** |  |  |
| Net income attributable to common stockholders | $114815 | $364751 |
| Amortization of debt discounts and issuance costs | 12408 | 13995 |
| Recoveries of Russian fleet write-off |  | (331938) |
| Stock-based compensation expense | 5096 | 17616 |
| Retirement compensation expense |  | 9230 |
| Merger related costs | 9088 |  |
| Income tax expense | 24005 | 95836 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted net income before income taxes | $165412 | $169490 |
| **Denominator for adjusted diluted earnings per share:&nbsp;&nbsp;&nbsp;&nbsp;** |  |  |
| Weighted-average diluted common shares outstanding&nbsp;&nbsp;&nbsp;&nbsp; | 112484656 | 112030382 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted diluted earnings per share before income taxes<sup>(b)</sup> | $1.47 | $1.51 |
| (b) Adjusted diluted earnings per share before income taxes is adjusted net income before income taxes divided by weighted-average diluted common shares outstanding. | (b) Adjusted diluted earnings per share before income taxes is adjusted net income before income taxes divided by weighted-average diluted common shares outstanding. | (b) Adjusted diluted earnings per share before income taxes is adjusted net income before income taxes divided by weighted-average diluted common shares outstanding. |

---

------

**Sumisho Air Lease Corporation and Subsidiaries**

**CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(In thousands)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended <br>March 31,** | **Three Months Ended <br>March 31,** |
| | **2026** | **2025** |
| | **(unaudited)** | **(unaudited)** |
| **Operating Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Net income | $125896 | $375832 |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Depreciation of flight equipment | 309783 | 299019 |
| &nbsp;&nbsp;&nbsp;Recoveries of Russian fleet write-off |  | (331938) |
| &nbsp;&nbsp;&nbsp;Stock-based compensation expense | 5096 | 17616 |
| &nbsp;&nbsp;&nbsp;Deferred taxes | 23912 | 95322 |
| &nbsp;&nbsp;&nbsp;Amortization of prepaid lease costs | 21049 | 22704 |
| &nbsp;&nbsp;&nbsp;Amortization of discounts and debt issuance costs | 12408 | 13995 |
| &nbsp;&nbsp;&nbsp;Foreign currency remeasurement (gain)/loss on sales-type leases | 3058 | (5764) |
| &nbsp;&nbsp;&nbsp;Gain on aircraft sales, trading and other activity | (53780) | (68838) |
| &nbsp;&nbsp;&nbsp;Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 38434 | 13581 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest and other payables | 34003 | (34234) |
| &nbsp;&nbsp;&nbsp;&nbsp;Rentals received in advance | (16522) | (8949) |
| Net cash provided by operating activities | 503337 | 388346 |
| **Investing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Acquisition of flight equipment | (572689) | (585725) |
| &nbsp;&nbsp;&nbsp;Payments for deposits on flight equipment purchases | (189766) | (179774) |
| &nbsp;&nbsp;&nbsp;Proceeds from aircraft sales, trading and other activity | 248586 | 407624 |
| &nbsp;&nbsp;&nbsp;Proceeds from settlement of insurance claims |  | 328546 |
| &nbsp;&nbsp;&nbsp;Acquisition of aircraft furnishings, equipment and other assets | (58314) | (72871) |
| Net cash used in investing activities | (572183) | (102200) |
| **Financing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;Cash dividends paid on Class A common stock | (24588) | (24503) |
| &nbsp;&nbsp;&nbsp;Cash dividends paid on preferred stock | (11081) | (11081) |
| &nbsp;&nbsp;&nbsp;Tax withholdings on stock-based compensation | (15952) | (12271) |
| &nbsp;&nbsp;&nbsp;Net change in unsecured revolving facilities | 2170000 | 30000 |
| &nbsp;&nbsp;&nbsp;Net change in commercial paper balance | (315100) | 888500 |
| &nbsp;&nbsp;&nbsp;Proceeds from debt financings | 100000 | 199950 |
| &nbsp;&nbsp;&nbsp;Payments in reduction of debt financings | (1857406) | (1477864) |
| &nbsp;&nbsp;&nbsp;Debt issuance costs | (47) | (1385) |
| &nbsp;&nbsp;&nbsp;Security deposits and maintenance reserve receipts | 120734 | 114436 |
| &nbsp;&nbsp;&nbsp;Security deposits and maintenance reserve disbursements | (13100) | (7419) |
| Net cash provided/(used in) by financing activities | 153460 | (301637) |
| Net increase/(decrease) in cash | 84614 | (15491) |
| Cash, cash equivalents and restricted cash at beginning of period | 469950 | 476104 |
| Cash, cash equivalents and restricted cash at end of period | $554564 | $460613 |
| **Supplemental Disclosure of Cash Flow Information** |  |  |
| Cash paid during the period for interest, including capitalized interest of $11,277 and $7,860 at March 31, 2026 and 2025, respectively | $217861 | $237890 |
| Cash paid for income taxes | $2143 | $38 |
| **Supplemental Disclosure of Noncash Activities** |  |  |
| Buyer furnished equipment, capitalized interest and deposits on flight equipment purchases applied to acquisition of flight equipment and other assets | $197492 | $214047 |
| Flight equipment subject to operating leases reclassified to flight equipment held for sale | $628925 | $60572 |
| Transfer of flight equipment to investment in sales-type lease | $21674 | $33778 |
| Cash dividends declared on Class A common stock, not yet paid | $24731 | $24587 |

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## Exhibit 99.2

![](ex992-sumishoairleasepre001.jpg)

Sumisho Air Lease Corporation Financial Results 1Q 2026

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![](ex992-sumishoairleasepre002.jpg)

Forward Looking Statements and Non-GAAP Measures This presentation contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements appear in a number of places in this press release and include statements regarding, among other matters, the state of the airline industry, our ability to access the capital and debt markets, our aircraft sales pipeline and expectations, changes in inflation and interest rates and other macroeconomic conditions and other factors affecting our financial condition or results of operations. Words such as "can," "could," "may," "predicts," "potential," "will," "projects," "continuing," "ongoing," "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and "should," and variations of these words and similar expressions, are used in many cases to identify these forward-looking statements. Any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties, and other factors that may cause our actual results, performance or achievements, or industry results to vary materially from our future results, performance or achievements, or those of our industry, expressed or implied in such forward-looking statements. Such factors include, among others: • our inability to obtain additional capital on favorable terms, or at all, to service our debt obligations and refinance maturing debt obligations; • our inability to generate sufficient returns on our aircraft investments through strategic aircraft acquisitions and profitable leasing; • obsolescence of, or changes in overall demand for, our aircraft; • changes in the value of, and lease rates for, our aircraft, including as a result of aircraft oversupply, manufacturer production levels, our lessees' failure to maintain our aircraft, inflation, and other factors outside of our control; • impaired financial condition and liquidity of our lessees, including due to lessee defaults and reorganizations, bankruptcies or similar proceedings; • there could be potential conflicts of interest with SMBC AC (as defined herein), as servicer of the majority of our aircraft; • increased competition from other aircraft lessors; • the failure by our lessees to adequately insure our aircraft or fulfill their contractual indemnity obligations to us, or the failure of such insurers to fulfill their contractual obligations; • increased tariffs and other restrictions on trade; • changes in the regulatory environment, including changes in tax laws and environmental regulations; • other events affecting our business or the business of our lessees and aircraft manufacturers or their suppliers that are beyond our or their control, such as the threat or realization of epidemic diseases, natural disasters, terrorist attacks, war or armed hostilities between countries or non-state actors; and • any additional factors discussed under "Part II — Item 1A. Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and other Securities and Exchange Commission ("SEC") filings, including future SEC filings. All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations. You are therefore cautioned not to place undue reliance on such statements. Any forward-looking statement speaks only as of the date on which it is made, and we do not intend and undertake no obligation to update any forward-looking information to reflect actual results or events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. The Company has an effective registration statement (including a prospectus) with the SEC. Before you invest in any offering of the Company's securities, you should read the prospectus in that registration statement and other documents the Company has filed with the SEC for more complete information about the Company and any such offering. You may obtain copies of the Company's most recent Annual Report on Form 10-K and the other documents it files with the SEC for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Company will arrange to send such information if you request it by contacting Sumisho Air Lease Corporation, General Counsel, 2000 Avenue of the Stars, Suite 1000N, Los Angeles, California 90067, (310) 553-0555. The Company routinely posts information that may be important to investors in the "Investors" section of the Company's website at www.sumisho.aero. Investors and potential investors are encouraged to consult the Company's website regularly for important information about the Company. The information contained on, or that may be accessed through, the Company's website is not incorporated by reference into, and is not a part of, this presentation. In addition to financial results prepared in accordance with U.S. generally accepted accounting principles, or GAAP, this presentation contains certain non-GAAP financial measures. Management believes that in addition to using GAAP results in evaluating our business, it can also be useful to measure results using certain non-GAAP financial measures. Investors and potential investors are encouraged to review the reconciliation of non-GAAP financial measures with their most direct comparable GAAP financial results set forth in the Appendix section.

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![](ex992-sumishoairleasepre003.jpg)

3 Sumisho Air Lease: Executive Management Team David Swan Chief Commercial Officer 30+ Years of Industry / Finance Experience Noriyuki Hiruta Chief Executive Officer 40 Years of Industry / Finance Experience Sabrina Lemmens Chief Financial Officer 20+ Years of Industry / Finance Experience

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![](ex992-sumishoairleasepre004.jpg)

>1,700 Owned, Serviced and Committed Aircraft $28B New Technology Direct Orders 4 Owned Portfolio JOL / ABS / JV Aircraft 3 $90B $13B Aircraft $50B Aircraft 1, 4 $27B Aircraft 2 >170 Airline Customers SMBC Aviation Capital figures are as of December 31, 2025, except for direct orders. Sumisho Air Lease figures are as of March 31, 2026. 1) Represents the value of SMBC Aviation Capital's owned and managed fleet plus aircraft on order to be owned or managed by SMBC Aviation Capital as of December 31, 2025. 2) SMBC Aviation Capital services the Sumisho Air Lease owned fleet. Excludes the value of 42 aircraft on lease to U.S. airlines serviced internally by Sumisho Air Lease. 3) Represents the value of SMBC Aviation Capital's owned and managed fleet plus aircraft on order to be owned or managed by SMBC Aviation Capital as of December 31, 2025, plus orders acquired from Air Lease Corporation on April 8, 2026. 4) SMBC Aviation Capital orderbook at December 31, 2025, incorporates pro-forma orders acquired from Air Lease Corporation on April 8, 2026. 4 Sumisho Air Lease Benefits from SMBC Aviation Capital's Financing Platform Scale

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![](ex992-sumishoairleasepre005.jpg)

Flexible Acquisition Strategy Investing Across Procurement Channels Sale and Lease Back Direct Orders Portfolio Acquisitions Strategic M&A Assets acquired from an airlines orderbook and placed back on long- term leases with the operator Potential acquisition opportunities of aircraft from SMBC Aviation Capital's orderbook Portfolios acquired from other lessors seeking to manage portfolio limits and concentrations Participate in the execution of highly strategic M&A opportunities 5

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![](ex992-sumishoairleasepre006.jpg)

Sumisho Air Lease's Shareholders Represent Formidable Combination of Financial Firepower and Expertise A-/Baa1 S&P/Moody's 37.51%1 Shareholder A-/BBB+ S&P/Fitch 24.99%1 Shareholder A/A S&P/Fitch 18.75%1 Shareholder A-/A- S&P/Fitch 18.75%1 Shareholder 1) Refers to economic ownership. 6

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![](ex992-sumishoairleasepre007.jpg)

$115M Net Income to Common Stockholders Performance underpinned by robust demand for our high-quality asset base $28.9B Young, New-Technology Fleet 496 owned aircraft fleet, 5.0 years weighted-average fleet age, 83% new technology 1 Strong Sales Pipeline Includes $4.6B of aircraft subject to letters of intent & $940M in aircraft held for sale $5.6B BBB/BBB/A- S&P / Fitch / Kroll Ratings confirmed in context of Sumitomo Corporation-led acquisition Bonds Issued Inaugural bond issuance more than 5x oversubscribed at its peak $4B 7 1Q 2026 Financial & Operating Highlights All figures as of March 31, 2026, other than letters of intent , which reflect those signed through May 5, 2026. 1) $28.9 billion net book value of flight equipment and 5.0 years weighted-average fleet age reflect flight equipment on operating lease, new technology aircraft percentage reflects the owned fleet. New technology aircraft are defined as A220 family, A320neo family, A330neo family, A350 family, Boeing 737 MAX family, and Boeing 787 family aircraft types.

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1Q 2026 Financial Performance Comparison 8 Revenue in $M Net Income to Common Stockholders 1 in $M Adjusted Net Income Before Income Taxes 2 in $M 1) 1Q25 net income includes non-recurring insurance recoveries totalling $331.9 million, along with elevated Gain on Sale, Trading and Other Income and expenses as compared to 1Q26. 2) Please see the Appendix section for a reconciliation of Adjusted Net Income Before Income Taxes. 169.5 165.4 738.3 739.2 364.8 114.8 1Q 2025 1Q 2026 1Q 2025 1Q 2026 1Q 2025 1Q 2026

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Strong Balance Sheet and Liquidity Base Sumisho Air Lease's robust financial position is underpinned by its largely unsecured debt profile, deep funding base, and strong global bank relationships including its primary lender, SMBC bank ~99% Unsecured Debt S&P, Fitch/Kroll Ratings BBB/A- Targeted Net D/E Ratio ~3.0x $4.1B Available Liquidity 9All figures as of March 31, 2026, except available liquidity and unsecured debt, which are as of April 30, 2026. We define liquidity as our cash on hand plus availability under our revolving credit facility.

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Sumisho Air Lease is Well-Positioned for Continued Success 10 Strong Aircraft Sales Pipeline S&P/Fitch/Kroll Investment Grade Ratings Young Fleet, 83% New Technology Aircraft 2 Available Liquidity, Strong Balance Sheet $28.9B BBB/BBB/A- $4.1B $5.6B Sumisho Air Lease figures are as of March 31, 2026 except available liquidity, which is as of April 30, 2026, and sales pipeline which includes letters of intent signed through May 5, 2026. We define liquidity as cash on hand plus available borrowings under our revolving credit facility. 1) Represents the value of SMBC Aviation Capital's owned and managed fleet plus aircraft on order to be owned or managed by SMBC Aviation Capital as of December 31, 2025, plus orders acquired from Air Lease Corporation on April 8, 2026. 2) $28.9 billion net book value of aircraft subject to operating lease. New technology aircraft percentage reflects the owned fleet. New technology aircraft are defined as A220, A320neo family, A330neo, A350, Boeing 737 MAX and Boeing 787 aircraft types. SMBC Aviation Capital Servicing Platform Scale 1 $90B

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Appendix Financial Results Q1 2026

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Sumisho Air Lease Corporation: Ownership Structure SCIV Sumisho Air Lease Designated Activity Company Sumisho Air Lease Finance Corporation Sumisho Air Lease Corporation 24.99% Economic 18.75% Economic37.51% Economic 18.75% Economic 75.01% Economic 12

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Structured Equity Investment Characteristics Equity invested by Apollo and Brookfield includes certain structural enhancements Enhancements contained within equity at SCIV level, not Sumisho Air Lease level Distributions by Sumisho Air Lease Corporation DAC made in line with common equity holdings Long-Term Support Agreement ("LTSA") in place between Sumitomo Corporation and Apollo and Brookfield Option available to Sumitomo Corporation in years 7 to 10 to acquire Apollo and Brookfield's equity in SCIV 13

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# of countries2 # of operators3 Orders2 In Storage 2 In Service 2 In our portfolio 1 Aircraft Type 24 27 444 80 412 43 A220-100/-300 98 263 4 368 3,499 16 A320-200 51 103 - 97 1472 17 A321-200 59 122 1,872 480 1,845 20 A320-neo 53 111 5,557 288 1,754 112 A321-neo 70 113 - 138 854 18 A330-200/300 19 20 294 11 170 28 A330-neo 30 41 755 34 670 25 A350-900/1000 88 208 2 310 5,380 37 737-NG 47 89 2,209 37 2,178 111 737-8/9 MAX 46 75 5 183 1027 24 777-200ER/-300ER 39 57 1,074 20 842 44 787-9/-10 35 48 - 95 367 1 E190 Sumisho Air Lease – High Quality, Liquid Aircraft Portfolio 1) Includes Sumisho Air Lease owned fleet as of March 31, 2026. 2) Cirium Fleets Analyzer Ascend as of March 31, 2026, passenger aircraft only 3) Cirium Fleets Analyzer Ascend as of March 31, 2026, airline operators only, in-service & stored fleet only. 14

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Non-GAAP Reconciliations 15 (in thousands) 2026 2025 Reconciliation of net income attributable to common shareholders to adjusted net income before income taxes: Net income attributable to common stockholders 114,815$364,751$ Amortization of debt discounts and issuance costs 12,408 13,995 Recoveries of Russian fleet write-off - (331,938) Stock-based compensation expense 5,096 17,616 Retirement compensation expense - 9,230 Merger related costs 9,088 - Income tax expense 24,005 95,836 Adjusted net income before income taxes 165,412$169,490$ Three Months Ended March 31,

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