AUGUST 11TH, 2015

AerCap Holdings N.V. Reports Financial Results for Second Quarter 2015

Adjusted net income was:

$361.1 million for the second quarter of 2015
(reported net income of $309.1 million)

$665.7 million for the first half year of 2015
(reported net income of $620.6 million)

Adjusted basic earnings per share were:

$1.73 for the second quarter of 2015
(reported basic earnings per share of $1.48)

$3.16 for the first half year of 2015
(reported basic earnings per share of $2.95)

Second Quarter 2015 Highlights

132 aircraft transactions executed.

99.1% fleet utilization rate and 6.0 years average remaining contracted lease term as of June 30, 2015.

Commitments to purchase 461 aircraft with scheduled delivery dates through 2022. Approximately 80% of aircraft purchases delivering through December 2018 are leased under a lease contract or letter of intent on an average 12-year lease term.

Placed an order for 100 Boeing 737 MAX 8 aircraft with deliveries starting in 2019.

15.7 million shares repurchased for $750 million from American International Group, Inc. (“AIG”).

$6.6 billion of available liquidity. $16.8 billion of financing raised since the ILFC acquisition announcement in December 2013.

Aengus Kelly, CEO of AerCap, commented: “AerCap is proud to have delivered record results again this quarter which reflects the earnings consistency in the aircraft leasing sector and the power of our franchise. In addition to outstanding operating results, we also completed in the second quarter a highly successful $3.5 billion secondary share offering, a landmark order for 100 Boeing 737 MAX 8 aircraft and a $750 million share repurchase representing over 7% of our outstanding shares. The highly accretive share repurchase was financed in part by a subordinated debt issuance. AerCap remains totally committed to delivering long term shareholder value by delivering consistent operating results and taking advantage of accretive opportunities as they arise. Our second quarter performance is a reflection of this commitment.”

Second Quarter 2015 Financial Results

Reported net income of $309.1 million, compared with $123.7 million for the same period in 2014. Reported basic earnings per share of $1.48, compared with $0.75 for the same period in 2014. Increases in reported net income and earnings per share over the second quarter 2014 were driven primarily by the full quarter impact of the ILFC Transaction, gain on sale of assets and a gain from the settlement of a residual value guarantee.

Adjusted net income of $361.1 million, compared with $187.1 million for the same period in 2014. Adjusted basic earnings per share of $1.73, compared with $1.14 for the same period in 2014. Increases in adjusted net income and earnings per share over the second quarter 2014 were driven primarily by the full quarter impact of the ILFC Transaction, gain on sale of assets and a gain from the settlement of a residual value guarantee.

Annualized net spread of 9.9%, compared to 9.8% for the same period in 2014.

Debt/equity ratio of 3.3 to 1 as of June 30, 2015 compared to 3.8 to 1 as of June 30, 2014, reflecting our commitment to deleveraging, post the ILFC Transaction.

Total assets of $44.1 billion as of June 30, 2015.

Net Income/Earnings Per Share

Second quarter 2015 adjusted net income increased 93% over the same period in 2014 and second quarter 2015 adjusted earnings per share increased 52% over the same period in 2014. The increases were driven primarily by the full quarter impact of the ILFC Transaction, gain on sale of assets and a gain from the settlement of a residual value guarantee.

Adjusted net income reflects, among others, expensing the maintenance rights asset over the remaining economic life of the aircraft as compared to expensing this asset during the remaining lease term as reflected in reported net income. The maintenance rights asset represents the difference between the actual physical condition of the aircraft at the ILFC acquisition date and the value based on the contractual return conditions in the lease contracts. We believe adjusted net income may further assist investors in their understanding of our operational and financial performance. The difference in the two methods has no economic impact as it is non-cash and equalizes over time. Refer to Notes Regarding Financial Information Presented in This Press Release for details relating to the adjustments.

Revenue and Net Spread

Basic lease rents were $1,164.6 million for the second quarter of 2015, compared with $716.7 million for the same period in 2014. The increase was driven primarily by the full quarter impact of the ILFC Transaction and new lease contracts relating to new aircraft purchases. Our average lease assets for the second quarter 2015 were $36.6 billion, compared with $22.5 billion for the same period in 2014.

Lease revenue for the second quarter of 2015 was $1,234.3 million, compared with $745.7 million for the same period in 2014.

Net gain on sale of assets for the second quarter of 2015 was $54.6 million, relating to 13 aircraft that were sold, compared with a net loss of $0.9 million for the same period in 2014. During the second quarter of 2015, we also parted-out one aircraft and reclassified two aircraft to finance leases, which had no impact on net gain on sale of assets.

Other income for the second quarter of 2015 was $48.6 million, compared with $44.4 million for the same period in 2014. Other income for the second quarter of 2015 included a gain of $17.0 million from the settlement of a residual value guarantee. Other income for the second quarter of 2014 included a gain of $19.9 million from the sale of an investment.

As shown in the table above, adjusted interest expense was $254.9 million in the second quarter of 2015, a 54% increase compared with the same period in 2014. Net spread was $909.7 million in the second quarter of 2015, a 65% increase compared with the same period in 2014.

Selling, General and Administrative Expenses

The increase in selling, general, and administrative expenses, period over period, reflects the full quarter impact of the ILFC Transaction partially offset by realized synergies.

Effective Tax Rate

AerCap’s blended effective tax rate during the second quarter of 2015 was 13.5%. The blended effective tax rate for the year ended December 31, 2014 was 15.0%. The decrease in our effective tax rate is driven primarily by the transfer of aircraft and substantial business operations from the United States to Ireland. The blended effective tax rate in any year is impacted by the source and amount of earnings among AerCap’s different tax jurisdictions.

As of June 30, 2015, AerCap’s portfolio consisted of 1,728 aircraft that were owned, on order, under contract or managed (including aircraft owned by AerDragon, a non-consolidated joint venture). The average age of the owned fleet as of June 30, 2015 was 7.7 years and the average remaining contracted lease term was 6.0 years.