Update Global Medium Term Note Programme

Avation PLC (AVAP: LSE), the commercial passenger aircraft leasing company announces that its wholly-owned subsidiary, Avation Group (S) Pte. Ltd. (the "Issuer"), has updated its global medium term note programme (the "Programme").

Under the Programme, the Issuer may issue Notes (the "Notes") denominated in any currency in various amounts and tenors, which may bear fixed, floating, variable or hybrid rates of interest or no interest at all. The Programme is guaranteed by the Company.

The updated Offering Memorandum has been published on the Singapore Stock Exchange and made available on the Company's website at www.avation.net.

Jeff Chatfield, Executive Chairman, said: "We were pleased to publish an Offering Memorandum which updates our existing global medium term note programme. We may use the Programme to issue new debt securities for the purpose of refinancing the outstanding Notes in due course".

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This announcement is for information purposes only and does not constitute an invitation or offer to acquire purchase or subscribe for any securities.

Within the United Kingdom, this announcement is directed only at persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005. The investment or investment activity to which this announcement relates is only available to and will only be engaged in with relevant persons and person who receive this announcement who are not relevant persons should not rely or act upon it.

The Notes will be offered pursuant to exemptions invoked under Sections 274, 275 and/or any other applicable provision of the Securities and Futures Act, Chapter 289 of Singapore.