LOS ANGELES, California, May 7, 2014 — Today Air Lease Corporation (NYSE: AL) announced the election of a new independent director to its Board of Directors (the “ALC Board”). After conducting a thorough search process led by the nominating and governance committee of the ALC Board, Marshall O. Larsen was elected to ALC Board, along with the seven other currently serving on the ALC Board, at the company’s annual meeting of stockholders earlier. Mr. Larsen also will serve on the ALC Board’s nominating and corporate governance committee.

“Marshall Larsen is an outstanding addition to our esteemed Board of Directors. His distinguished career leading Goodrich Corporation has given him a unique insight into the aerospace industry that will benefit our company and shareholders tremendously,” said Steven F. Udvar-Hazy, Chairman and Chief Executive Officer of ALC.

Mr. Larsen served as Chairman, President and Chief Executive Officer of Goodrich Corporation from 2003 until July 2012, when Goodrich was acquired by UTC. He was elected as President and Chief Operating Officer of Goodrich in February 2002, and as a director in April 2002. From 1995 through January 2002, Mr. Larsen served as Executive Vice President of Goodrich and President and Chief Operating Officer of Goodrich Aerospace. Mr. Larsen joined Goodrich in 1977. Mr. Larsen is a former Chairman of the U.S. Aerospace Industries Association, and serves as a director of Becton, Dickinson and Company, Lowe’s Companies Inc., United Technologies Corporation and the Federal Reserve Bank of Richmond. He is active in numerous community activities and is a member of the Krannert School of Management Advisory Board, Purdue University. Mr. Larsen received his Bachelor of Science degree from the U.S. Military Academy and his Masters of Science degree in Industrial Administratio n from Purdue University.