FLY Leasing Announces Pricing of Senior Unsecured Notes Offering

DUBLIN, Ireland, September 24, 2014 – FLY Leasing Limited (NYSE: FLY) (“FLY”), a global lessor of modern commercial jet aircraft, today announced the pricing of $400 million aggregate principal amount of senior unsecured notes, consisting of $75 million aggregate principal amount of 6.750% senior notes due 2020 and $325 million aggregate principal amount of 6.375% senior notes due 2021. FLY plans to use the net proceeds of the offering for general corporate purposes, including the acquisition of aircraft.

Jefferies LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and RBC Capital Markets, LLC acted as the joint book-running managers for the offering. This offering is being made only by means of a preliminary prospectus supplement and an accompanying prospectus, which have been filed with the SEC and are available on the SEC’s website at www.sec.gov. Copies of the prospectus supplement and accompanying prospectus also may be obtained, when available, from: Jefferies LLC, Attn: Prospectus Department, 520 Madison Ave, 3rd Floor, New York, NY 10022, or at 1-888-708-5831; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or at 1-800-831-9146 or prospectus@citi.com; Deutsche Bank Securities Inc., Attn.: Prospectus Group, 60 Wall Street, New York, NY 10005-2836, or at 1-800-503-4611 or prospectus.CPDG@db.com; or RBC Capital Markets, LLC, Three World Financial Center, 10th Floor, 200 Vesey Street, New York, NY 10281, or at 1-877-280-1299.