Avolon Board considering two unsolicited offers for 100% of equity
at US$30 per share and US$31 per share respectively
Dublin | 31 July, 2015: Avolon (NYSE: AVOL), the international aircraft leasing company, announces the commencement of a cash tender offer by Bohai Leasing Co., Ltd. (“Bohai”) for 20% of the issued and outstanding common shares of Avolon at a price of US$26 per share pursuant to a Schedule TO and related Offer to Purchase to be filed with the Securities and Exchange Commission (“SEC”) on July 31, 2015 (the “Offer”). The Offer is being made pursuant to the Investment and Tender Offer Agreement, (the “Agreement”) dated July 14, 2015 between Avolon, Bohai and an indirect wholly owned subsidiary of Bohai.
A Tender Offer Solicitation/Recommendation Statement on Schedule 14D-9 to be filed by Avolon with the SEC today will state that Avolon has also received a non-binding unsolicited offer from an independent third party to acquire 100% of the issued and outstanding common shares of Avolon at a price of US$30 per share.
As required by the terms of the Agreement, Avolon informed Bohai of the unsolicited offer. After Avolon informed Bohai of this offer, Bohai submitted a non-binding offer to acquire 100% of the issued and outstanding common shares of Avolon at a price of US$31 per share.
Avolon’s Board of Directors has not accepted or rejected either offer and continues to carefully evaluate these offers with its financial and legal advisors and has authorized its financial advisors to continue negotiations with both offerors regarding their respective offers.
Avolon remains subject to the Agreement. There can be no assurance that either of the potential offerors will make a binding offer to acquire 100% of the issued and outstanding common shares of Avolon or if any binding offer is made, that Avolon’s Board of Directors will accept such offer.

If such a binding offer is made and accepted by Avolon’s Board of Directors, prior to the consummation of the Offer, it is anticipated that Avolon will terminate the Agreement and the Offer.
Important Information
AVOLON SHAREHOLDERS ARE ADVISED TO READ THE SCHEDULE TO (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND OTHER OFFER DOCUMENTS) AND THE SCHEDULE 14D-9, EACH TO BE FILED ON JULY 31, 2015, AND AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, BEFORE MAKING ANY DECISION WITH RESPECT TO THE TENDER OFFER BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES THERETO.
Investors and stockholders may obtain free copies of the Schedule TO and Schedule 14D-9 after they have been filed, as each may be amended or supplemented from time to time, and other documents filed by the parties (when available), at the SEC’s web site at www.sec.gov or by contacting Avolon’s Investor Relations Department by e-mail at ir@avolon.aero
Note Regarding Forward-Looking Statements
This document includes forward-looking statements, beliefs or opinions, including statements with respect to Avolon’s business, financial condition, results of operations and plans. These forward-looking statements involve known and unknown risks and