GRANT OF WARRANTS

Via RNS and SGXNET

AVATION PLC

("AVAP" or "the Company")

GRANT OF WARRANTS

Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that share warrants have been granted to directors and other employees of the Company as set out below.

The grant of warrants is pursuant to authority given by shareholders at the Company's 2019 annual general meeting. The warrants have been granted as long-term incentives on customary terms for employee share remuneration and are subject to clawback under the Company's Remuneration Policy. The warrants were granted by the board on 21 November 2019 at an exercise price of 274.5 pence per share and one third of the warrants vest at the end of each of the three years from the date of grant.

Details of warrants granted to directors are as follows:

Robert Jeffries Chatfield, Executive Chairman: 300,000

Roderick Douglas Mahoney, Chief Commercial Officer: 120,000

A further 350,000 warrants have been granted to other employees on the same terms.

-ENDS-

Enquiries:

Avation PLC - Jeff Chatfield, Executive Chairman +65 6252 2077

Avation welcomes shareholder questions and comments and advises the email address is: [email protected]

Notes to Editors:

Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to airlines around the world.

More information on Avation is available at www.avation.net.