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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________________________________________

FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 ______________________________________________________________________
 
Date of Report (Date of earliest event reported): August 4, 2026
 
Willis Lease Finance Corporation
(Exact Name of Registrant as Specified in Charter)
 
Delaware 001-15369 68-0070656
(State or Other Jurisdiction
of Incorporation)		 (Commission File
Number)		 (I.R.S. Employer
Identification Number)
 
4700 Lyons Technology Parkway
Coconut Creek, FL 33073
(Address of Principal Executive Offices) (Zip Code)
 
Registrant’s telephone number, including area code: (561) 349-9989
 
Not Applicable
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐ Pre-commencement communications pursuant Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Trading Symbol Name of exchange on which registered
Common Stock, $0.01 par value per share WLFC Nasdaq Global Market
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o




Item 2.02 Results of Operations and Financial Condition.
 
On August 4, 2026, Willis Lease Finance Corporation (the “Company”) issued a news release setting forth the Company’s results from operations for the three and six months ended June 30, 2026 and financial condition as of June 30, 2026. A copy of the news release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 
The information and exhibit furnished under this Item 2.02 shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
 
Item 9.01 Financial Statements & Exhibits.
 
Exhibit No. Description
99.1
99.2
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned duly authorized officer.
 
Dated: August 4, 2026
 
 
WILLIS LEASE FINANCE CORPORATION
By: /s/ Scott B. Flaherty
Scott B. Flaherty
Executive Vice President and Chief Financial Officer

3
EX-99.1 2 q22026ex991.htm EX-99.1 Document

Exhibit 99.1
image.jpg

 
CONTACT:
 Scott B. Flaherty
NEWS RELEASE Executive Vice President & Chief Financial Officer
561.413.0112
 

Willis Lease Finance Corporation Reports Solid Second Quarter 2026 Financial Results

COCONUT CREEK, FL — August 4, 2026 — Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”), the leading lessor of commercial aircraft engines and global provider of aviation services, today announced its financial results for the second quarter ended June 30, 2026.

Second Quarter 2026 Highlights (All metrics compared to second quarter 2025, except where noted)

•Income from operations of $34.0 million, an increase of 20.2%
•Quarterly lease rent revenue of $77.1 million, an increase of 6.7%
•Quarterly core lease rent and maintenance reserve revenues were $123.6 million in the aggregate, up 0.5%
•Gain on sale of leased equipment of $32.0 million, an increase of 16.2%
•Net income attributable to common shareholders of $28.7 million
•Adjusted EBITDA of $120.7 million, an increase of 4.0%
•Grew assets under management, including on our balance sheet and Willis Aviation Capital businesses, to $4.4 billion

“The first half of the year was focused on establishing and building Willis Aviation Capital,” said Austin C. Willis, Chief Executive Officer of WLFC, “with total AUM growth of 21% year over year, we have delivered.”

Second Quarter 2026 Operating Results

Lease rent revenue increased by $4.9 million, or 6.7%, to $77.1 million in the three months ended June 30, 2026 from $72.3 million for the three months ended June 30, 2025. The increase is due to an increase in the average size of the portfolio as compared to that of the prior year period.

During the second quarter of 2026, the Company recognized $7.5 million of long-term maintenance revenue, compared to $0.5 million for the quarter ended June 30, 2025. Long-term maintenance is recognized at the end of a lease period as the related maintenance reserve liability is released from the balance sheet.

For the quarter ended June 30, 2026, the gain on sale of leased equipment was $32.0 million, reflecting the sale of 21 engines and other parts and equipment from the lease portfolio. During the three months ended June 30, 2025, the Company sold 14 engines, two airframes, and other parts and equipment for a net gain of $27.6 million.

In March 2026, the Company’s investment fund partnership with Liberty Mutual Investments commenced operations, followed by the commencement of the Company’s investment fund partnership with Blackstone Credit & Insurance in April 2026.

The book value of lease assets owned either directly or through WLFC’s joint ventures, inclusive of the Company’s equipment held for operating lease, maintenance rights, notes receivable, and investments in sales-type leases was $3,721.6 million as of June 30, 2026.



The value of our assets under management, inclusive of the book value of WLFC’s on-balance sheet assets as well as leased assets in our joint ventures, third-party managed assets, and managed fund portfolios was $4.4 billion as of June 30, 2026.

NON-GAAP FINANCIAL MEASURES

Adjusted EBITDA

We analyze our financial data to evaluate the health of our business and assess our performance. As appropriate, in addition to income or loss from operations under GAAP, we use Adjusted EBITDA, a non-GAAP financial measure, to evaluate our business. We believe that this non-GAAP financial measure provides meaningful supplemental information regarding our performance as it excludes certain items that may not be indicative of our recurring operating results. We also believe that investors, in addition to management, benefit from referring to this non-GAAP financial measure in assessing our performance, when viewed together with our GAAP results. While items excluded from Adjusted EBITDA may be recurring in nature and should not be disregarded in evaluating performance, it can be useful to exclude such items as they can vary significantly between periods and or not be indicative of current or future operating results.

Because non-GAAP financial measures are not standardized, our calculation of Adjusted EBITDA may differ from similarly titled non-GAAP measures, if any, reported by other companies. This non-GAAP financial measure should not be considered in insolation from, or as a substitute for, financial information performed in accordance with GAAP.

We define Adjusted EBITDA as net income attributable to common shareholders, excluding (i) income tax expense, (ii) interest expense, (iii) preferred stock dividends/costs, (iv) loss on debt extinguishment, (v) depreciation and amortization expense, (vi) stock compensation expense, (vii) write-down of equipment, (viii) acquisition, financing and divestitures related expenses, and (ix) other items not indicative of our ongoing operating performance.

Adjusted EBITDA was approximately $120.7 million and $116.1 million for the three months ended June 30, 2026 and 2025, respectively, and $244.6 million and $219.4 million for the six months ended June 30, 2026 and 2025, respectively. See below for the reconciliation of Adjusted EBITDA to the most directly comparable GAAP measure, net income attributable to common shareholders.

Three months ended June 30, Six months ended June 30,
2026 2025 2026 2025
(in thousands)
Net income attributable to common shareholders $ 28,745  $ 58,955  $ 52,406  $ 74,431 
Add: Income tax expense 7,828  13,920  19,583  22,305 
Add: Interest expense 29,689  33,569  62,322  65,663 
Add: Preferred stock dividends/costs 1,423  1,422  2,845  2,815 
Add: Loss on debt extinguishment 5,421  —  12,448  — 
Add: Depreciation and amortization expense 29,068  27,550  59,246  52,574 
Add: Stock compensation expense 12,703  16,751  26,455  23,658 
Add: Write-down of equipment 4,910  11,458  6,059  13,567 
Add: Acquisition, financing and divestitures related expenses 2,560  662  4,802  828 
Less: Other (1) (1,610) (48,226) (1,581) (36,449)
Adjusted EBITDA $ 120,737  $ 116,061  $ 244,585  $ 219,392 
________________________________________________________

1.During the three and six months ended June 30, 2026, the Company recognized non-recurring project expenses of $(1.6) million and $(1.6) million, respectively, related to its sustainable aviation fuel project. The negative expense recognized during the three-month and six-month periods reflect government grant proceeds recognized in the second quarter of 2026. During the three and six months ended June 30, 2025, the Company recognized non-recurring project expenses of $(5.3) million and $6.5 million, respectively, related to its sustainable aviation fuel project, for which the Company subsequently decided to cease further investment. The negative expense recognized during the three-month period reflects government grant proceeds received in the second quarter of 2025. Additionally, during the three and six months ended June 30, 2025, the Company recognized $43.0 million in relation to the gain on sale of the BAML business.



Balance Sheet

As of June 30, 2026, the Company’s lease portfolio was $2,956.3 million, consisting of $2,783.4 million of equipment held in its operating lease portfolio, $89.3 million of notes receivable, and $83.6 million of maintenance rights, which represented 334 engines, 22 aircraft, one marine vessel, and other leased parts and equipment. As of December 31, 2025, the Company’s lease portfolio was $2,988.9 million, consisting of $2,801.7 million of equipment held in its operating lease portfolio, $139.9 million of notes receivable, $30.6 million of maintenance rights, and $16.6 million of investments in sales-type leases, which represented 363 engines, 20 aircraft, one marine vessel, and other leased parts and equipment.

Conference Call

WLFC will hold a conference call led by the executive management team today at 10:00 a.m. Eastern Time to discuss its second quarter 2026 results.

To participate in the conference call, please use the following dial-in numbers:

U.S. and Canada: +1 (800) 330-6730
International: +1 786 297 8585
Conference ID: 7661930
Participant Passcode: 442978

The conference call may also be accessed by registering via the following link:
https://event.webcasts.com/starthere.jsp?ei=1759374&tp_key=c0ab3b632b.

A digital replay will be available two hours after the completion of the conference call. To access the replay, please visit the Investor Relations sections of our website at https://www.wlfc.global/investor-center.

About Willis Lease Finance Corporation

Willis Lease Finance Corporation (WLFC) leases large and regional spare commercial aircraft engines and aircraft to airlines, aircraft engine manufacturers and maintenance, repair and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Additionally, through Willis Engine Repair Center®, Jet Centre
by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO, and ground and cargo handling services.

Forward-Looking Statements

Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. By their nature, forward-looking statements involve a number of inherent risks, uncertainties and assumptions and are subject to change in circumstances that are difficult to predict and many of which are outside of our control. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed, either expressly or implicitly, in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and natural disasters; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors, as well as the impact of new or increased tariffs; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.


Unaudited Condensed Consolidated Statements of Income
(In thousands, except per share data) 

Three months ended June 30, Six months ended
June 30,
2026 2025 % Change 2026 2025 % Change
REVENUE
Lease rent revenue $ 77,137  $ 72,268  6.7  % $ 154,522  $ 140,007  10.4  %
Maintenance reserve revenue 46,456  50,743  (8.4) % 101,968  105,602  (3.4) %
Spare parts and equipment sales 21,180  30,354  (30.2) % 42,867  48,594  (11.8) %
Interest revenue 1,183  3,649  (67.6) % 3,971  7,583  (47.6) %
Gain on sale of leased equipment 32,038  27,582  16.2  % 49,997  32,019  56.1  %
Gain on sale of financial assets 154  —  nm 592  378  56.6  %
Maintenance services revenue 8,983  8,031  11.9  % 18,752  13,617  37.7  %
Management and advisory fees 5,524  2,588  113.4  % 13,419  4,551  194.9  %
Other revenue 1,362  287  374.6  % 2,275  883  157.6  %
Total revenue 194,017  195,502  (0.8) % 388,363  353,234  9.9  %
EXPENSES
Depreciation and amortization expense 29,068  27,550  5.5  % 59,246  52,574  12.7  %
Cost of spare parts and equipment sales 15,097  28,102  (46.3) % 29,514  43,425  (32.0) %
Cost of maintenance services 10,350  8,621  20.1  % 19,210  13,950  37.7  %
Write-down of equipment 4,910  11,458  (57.1) % 6,059  13,567  (55.3) %
General and administrative 55,559  50,429  10.2  % 112,163  98,149  14.3  %
Technical expense 9,947  7,508  32.5  % 19,635  13,738  42.9  %
Net finance costs:
     Interest expense 29,689  33,569  (11.6) % 62,322  65,663  (5.1) %
     Loss on debt extinguishment 5,421  —  nm 12,448  —  nm
Total net finance costs 35,110  33,569  4.6  % 74,770  65,663  13.9  %
Total expenses 160,041  167,237  (4.3) % 320,597  301,066  6.5  %
Income from operations 33,976  28,265  20.2  % 67,766  52,168  29.9  %
Gain on sale of business —  42,950  (100.0) % —  42,950  (100.0) %
Income from investments 4,172  3,082  35.4  % 7,220  4,433  62.9  %
Income before income taxes 38,148  74,297  (48.7) % 74,986  99,551  (24.7) %
Income tax expense 7,828  13,920  (43.8) % 19,583  22,305  (12.2) %
Net income 30,320  60,377  (49.8) % 55,403  77,246  (28.3) %
Net income attributable to noncontrolling interests 152  —  nm 152  —  nm
Net income attributable to WLFC 30,168  60,377  (50.0) % 55,251  77,246  (28.5) %
Preferred stock dividends 1,353  1,353  —  % 2,706  2,676  1.1  %
Accretion of preferred stock issuance costs 70  69  1.4  % 139  139  —  %
Net income attributable to common shareholders $ 28,745  $ 58,955  (51.2) % $ 52,406  $ 74,431  (29.6) %
Basic weighted average income per common share $ 1.36  $ 2.89  $ 2.53  $ 3.70 
Diluted weighted average income per common share $ 1.31  $ 2.81  $ 2.39  $ 3.55 
Basic weighted average common shares outstanding 21,127  20,367  20,733  20,094 
Diluted weighted average common shares outstanding 22,013  20,970  21,885  20,985 




Unaudited Condensed Consolidated Balance Sheets
(In thousands, except per share data)
 
June 30, 2026 December 31, 2025
ASSETS
Cash and cash equivalents $ 10,725  $ 16,441 
Restricted cash 161,497  530,500 
Equipment held for operating lease, less accumulated depreciation 2,783,382  2,801,683 
Maintenance rights 83,632  30,632 
Equipment held for sale 77,002  20,509 
Receivables, net 41,365  35,717 
Spare parts inventory 51,402  56,577 
Investments 152,148  104,250 
Property, equipment & furnishings, less accumulated depreciation 76,904  73,835 
Intangible assets, net 8,295  271 
Notes receivable, net 89,279  139,945 
Investments in sales-type leases, net —  16,595 
Due from affiliates 3,188  — 
Other assets 114,357  109,360 
Total assets $ 3,653,176  $ 3,936,315 
LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY
Liabilities:
Accounts payable and accrued expenses $ 103,306  $ 105,706 
Deferred income taxes 264,773  228,547 
Debt obligations 2,320,904  2,700,338 
Maintenance reserves 129,261  116,185 
Security deposits 24,537  24,651 
Unearned revenue 35,112  35,350 
Due to affiliates 1,407  — 
Total liabilities 2,879,300  3,210,777 
Redeemable preferred stock ($0.01 par value) 63,540  63,401 
Shareholders’ equity:
Common stock ($0.01 par value) 228  229 
Paid-in capital in excess of par 71,274  72,510 
Retained earnings 637,033  590,785 
Accumulated other comprehensive income (loss), net of income tax expense (benefit) 61  (1,387)
Total Willis Lease Finance Corporation shareholders’ equity
 708,596  662,137 
Noncontrolling interests 1,740  — 
Total equity
 710,336  662,137 
Total liabilities, redeemable preferred stock and equity $ 3,653,176  $ 3,936,315 


EX-99.2 3 wlfcq22026earningscallpr.htm EX-99.2 wlfcq22026earningscallpr
Q2 2026 EARNINGS CALL Date August 4, 2026 Time 10:00 AM EST Presenters Austin C. Willis Scott B. Flaherty

 
2 DISCLAIMER Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of the federal securities laws. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including ‘‘anticipate,’’ ‘‘may,’’ ‘‘estimate,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘believe,’’ ‘‘intend,’’ and similar words, or the negatives of those words, are intended to identify forward-looking statements. They also include statements containing a projection of revenues, earnings (loss), capital expenditures, dividends, capital structure or other financial terms. Certain statements regarding the following particularly are forward- looking in nature: ▪ Willis Lease Financial Corporation (the "Company" or "WLFC")’s business strategy; ▪ WEST’s business strategy and assumptions used to develop the cash flow models; ▪ future performance, developments, market forecasts or projections; and ▪ WLFC’s projected capital expenditures. All forward-looking statements are based on our beliefs, assumptions and expectations of future economic performance, taking into account the information currently available. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known and many of which are beyond WLFC’s and WEST’s control, which may cause actual results, performance or financial condition to be materially different from the stated expectations of future results, performance or financial position, as well as those included in the cash flow models. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: ▪ the effects on the airline industry and the global economy of events such as terrorist activity; ▪ changes in fuel prices and other disruptions to the world markets and the global economy of geopolitical, weather, cybersecurity, humanitarian and other events, including but not limited to war and terrorist activity; ▪ trends in the airline industry, including growth rates of markets and other economic factors; ▪ risks associated with owning and leasing commercial engines and aircraft; ▪ changes in interest rates and availability of capital to us and to our customers; ▪ our ability to continue to meet our customers’ changing demands; ▪ the market value of engines and other assets in our portfolio; ▪ regulatory changes affecting commercial aircraft operators, aircraft maintenance, engine standards, accounting standards and taxes; and ▪ WLFC’s, in its capacity as Servicer, ability to successfully negotiate engine purchases, sales and leases, to collect outstanding amounts due, and to repossess engines under defaulted leases, and to control costs and expenses. ▪ further information regarding these and other risks is included in WLFC's most recent U.S. Securities and Exchange Commission ("SEC") filings, including its Annual and Quarterly Reports on Forms 10-K and 10-Q, respectively, filed with the SEC under the heading “Risk Factors.” Considering these risks, uncertainties and assumptions, you are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of presentation or as of the date of any document incorporated by reference, as applicable. Such forward-looking statements are inherently uncertain, and actual results may differ from expectations. We are not under any obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise. Non-GAAP Financial Measures In this presentation, WLFC presents certain non-GAAP measures, including EBITDA, EBITDA Margin, Free Cash Flow and similar measures, which are not required by, or presented in accordance with, GAAP. While WLFC believes these are useful metrics, companies use these metrics for differing purposes and they are often calculated in ways that reflect the particular circumstances of those companies. You should exercise caution in comparing the non-GAAP metrics reported by us to such metrics or other similar metrics as reported by other companies. Our non-GAAP metrics have limitations as analytical tools, and you should not consider them in isolation. The non-GAAP financial information presented herein is provided in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP and should not be considered as alternatives to any performance measures derived in accordance with GAAP. A reconciliation of EBITDA, a non-GAAP financial measure, to its most directly comparable GAAP measure, can be found on slide 17 of this presentation. The distribution of this presentation in certain jurisdictions may be restricted by law. Those persons into whose possession this presentation comes are required to inform themselves about and to observe any such restrictions. This presentation does not constitute an offer to any person or to the public generally to subscribe for or otherwise acquire any securities. This presentation has been prepared solely for informational purposes and is not intended to serve as the basis for any investment decision. Under no circumstances is this presentation or the information contained herein to be construed as a prospectus, offering memorandum or advertisement and neither any part of this written or oral presentation nor any information or statement contained herein or therein shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in any jurisdiction where such an offer or solicitation would be unlawful.

 
3 WHY WILLIS? differentiated offerings and strong performance strong aviation leasing market dynamics growing maintenance and repair demand a flywheel effect across the Willis Platform® long-term growth and shareholder returns ENABLES LEVERAGES CAPTURES ACCELERATES SUPPORTS Vertically Integrated Platform Core Leasing Business Services Willis Aviation Capital (WAC) Strong Balance Sheet

 
4 Q2 HIGHLIGHTS Seeded Funds Completed $300M in seed asset sales to establish the initial investment portfolio. Portfolio M&A Transactions Acquired three Airbus A330-300s that will be placed on long-term lease with China Airlines and EVA Air. Convertible Offering Issued $200M of 5-year, 2.5% senior convertible notes with a 40% conversion premium. Provides incremental capital flexibility and is immediately accretive. Grew AUM Grew assets under management across the Willis Lease balance sheet and Willis Aviation Capital ~$300M to $4.4BN at 6/30/26. SINCE QUARTER END ~$379.3M agreement to acquire 12 aircraft and 13 aircraft engines. SIGNED DEFINITIVE AGREEMENT 5-year storage and lease-return agreement with Pratt & Whitney covering PW1100G-JM, PW1500G, PW1900G, PW4000 and V2500 engines. ENTERED INTO AGREEMENT Added to 3 additional Russell indexes, reflecting broader market recognition of WLFC. EXPANDED INDEX INCLUSION

 
5 Q2 FINANCIAL RESULTS CONTINUE GROWTH TRAJECTORY Information as of June 30, 2026, unless otherwise denoted (1) As represented by WLFC Portfolio of Leased Assets, Notes Receivable, Investments in Sales-type Leases, Maintenance Rights, Leased Assets in Joint Venture, Third-Party Managed Assets, and Managed Funds portfolios as of June 30, 2026 (2) Calculated as Last Twelve Months (LTM) Net Income Attributable to Common Shareholders / average of Shareholder’s Equity as of June 30, 2026 (3) Calculated as (total Debt Obligations - Cash and Cash Equivalents and Restricted Cash) / (Preferred Equity + Total Shareholder’s Equity) (4) Blended utilization and on-lease lease rate factor reflect WLFC’s owned portfolio (5) Adjusted EBITDA is a non-GAAP measure and reconciled to Net income attributable to common shareholders in the appendix $194.0M $28.7M 85% $4.4B(1) $120.7M(5) 2.78x(3) With on-lease lease rate factor of 1.03% per month (4) REVENUE NET INCOME TO SHAREHOLDERS BLENDED UTILIZATION (4) ASSETS UNDER MANAGEMENT Adjusted EBITDA NET DEBT / EQUITY Return on Equity of 13% (2) Up 21% YoY

 
6 LONG-TERM MAINTENANCE RESERVES ▪ Long-term maintenance reserve revenue reached $7.5M, compared to $0.5M in the prior year SHORT-TERM MAINTENANCE RESERVES ▪ Short-term maintenance reserves revenue declined 22% YoY to $39M ▪ Influenced by fuel prices and number of engines on short-term lease conditions LEASE RENT ▪ Lease rent of $77.1M (+7% YoY) ▪ Stable lease rate factor (1.03%) across asset generations (+3 bps YoY) ▪ Growth driven by next-gen assets and improved lease dynamics $72.3 $77.1 7% Q2 2025 Q2 2026 Driven by WLFC’s market leading assets, capabilities and deep customer relationships CONSISTENT GROWTH ACROSS ENTIRE PLATFORM $50.2 $39.0 -22% Q2 2025 Q2 2026 $0.5 $7.5 +$7.0M Q2 2025 Q2 2026

 
7 PROFITABILITY & CASHFLOWS Net income, EPS, and adjusted EBITDA Net Income ▪ $28.7M Net Income, up 80% YoY, excluding one-time gain from 2025 BAML sale ▪ $1.31 Diluted EPS (post-stock split), up 72% YoY on a normalized basis ▪ Revenue growth across nearly all sales channels ▪ Income from Operations margins increased 400 bps YoY, driven by increased business scale $16.0(1) $28.7 80% Q2 2025 Q2 2026 Diluted EPS $0.76 (2) $1.31 $2.81 72% Q2 2025 Q2 2026 Adjusted EBITDA ▪ Adjusted EBITDA of $120.7M, up 4% YoY ▪ Reflecting strong YoY operating performance and the business’s resilient cash-generating profile $116.1 $120.7 4% Q2 2025 Q2 2026 $59.0 1) Excludes $43 million of tax free one time gain on sale of BAML business 2) Adjusted to reflect 3-for-1 split and excluding one time, tax free gain on sale of BAML business

 
8 Encouraged by early traction, with a strong pipeline of opportunities in 2026. WILLIS AVIATION CAPITAL ENHANCES WLFC PORTFOLIO Transforms WLFC from balance-sheet lessor to scaled aviation asset manager Blackstone Credit & Insurance Engine leasing >$1.0B Liberty Mutual Investments Funds growing credit strategy Up to $600M $17M funded in Q2 50/50 Joint Ventures Willis Mitsui & Co. CASC Willis Engine Leasing Co. $765M Managed Assets(1) Owned by airlines and investors $372M REVENUE Generates recurring income streams to drive premium returns on equity (2) (3) (4) (5) (1) Managed Assets are portfolios managed by WLFC but hold no equity investment in the assets (2) Willis Aviation Services Limited is our airframe maintenance facility in the UK and is certified to perform all C checks on 737NG and up to 6-year checks on a320ceo aircraft (3) Willis Aeronautical Services, Inc. offers spare parts and materials & maintains a constantly changing inventory (4) Willis Mitsui & Co. Asset Management Limited provides independent aviation consultancy, advisory solutions, and technical services across a broad spectrum of engine types (5) Willis Engine Repair Center® conducts maintenance repair and overhaul services on our owned engine portfolio and third-party assets in the USA and the UK VOLUME Increases the volume of assets serviced across WLFC and JV businesses ORIGINATION Enables origination opportunities by allowing larger single transitions SCALE Improves scale by enabling programmatic investments and lessee diversification BALANCE SHEET Supports balance sheet deleveraging CUSTOMER VALUE Competitive low-cost financing for existing customer base Willis Aviation Capital (WAC)

 
9 SCALING A CAPITAL-LIGHT ASSET MANAGEMENT PLATFORM Leveraging our industry -leading Will is Platform® to bring attractive returns to our par tners and enhance enterprise value (1) Does not include additional capacity at WLFC or Joint Ventures (2) Reflects committed capital as of June 30, 2025. (3) Managed Assets are portfolios managed by WLFC but holds no equity investment in the assets (4) Investment partnership with Liberty Mutual Investments; funded approximately $103 million of finance leases in Q1 and Q2 2026 (5) Investment partnership with Blackstone Credit & Insurance; funded approximately $204 million of operating leases in Q2 2026 WLFC 50/50 Joint Ventures $1B+ (2) Managed Assets(3) AUM: $4.4 BN+(1) as of 6/30/2026 WLFC LMI(4) WLFC BX(5) $2.8BN+ committed and managed capital $600M(2) $103M(4) $3.0BN $765M $372M 1 N+(2) Significant incremental borrowing capacity exists for portfolio growth at both WLFC and WMES. $204M(5)

 
10 ▪ Engine & Aircraft Leasing ▪ Regional & Specialty Assets Leasing ▪ Engine & Aircraft Lease & Loan Financing ▪ ConstantAccess® / ConstantThrust® ▪ Aircraft for Engine Strategy ▪ Engine Maintenance & Disassembly (US/UK) ▪ CFM56-5B/7B Test Cell (US) – Coming Soon! ▪ Aircraft Line & Base Maintenance, Parking & Storage, Disassembly (UK) ▪ Material Solutions & Services for Engines & Airframes (US/UK) ▪ Airport FBO & Handling Services (UK) ▪ Aircraft & Powerplant Consultancy & CAMO ▪ Institutional-backed Capital at Scale ▪ Leasing, Loans & Loan-like Products ▪ Repeatable Programmatic Funding with Low Execution Risk ▪ Long-standing Joint Ventures with Highly Reputable Partners ▪ Large Managed Asset Portfolio PLATFORM OFFERS DIFFERENTIATED CAPABILITIES TO CUSTOMERS

 
11 ▪ Visible pipeline driving near-term earnings growth ▪ Supply-demand imbalance creating attractive deployment opportunities ▪ Willis Aviation Capital (WAC) scaling to unlock incremental, fee-based revenue ▪ ~$4.4B AUM(1) in high-demand assets ▪ Broad diversification across OEMs, customers, and geographies ▪ Structural supply constraints supporting lease demand and yields UNIQUE OPPORTUNITY IN AVIATION (1) As represented by WLFC Portfolio of Leased Assets, Notes Receivable, Investments in Sales-type Leases, Maintenance Rights, Leased Assets in Joint Ventures, Third-Party Managed Assets, and Managed Funds portfolios as of June 30, 2026 ▪ Proven leadership team with deep aviation leasing track record ▪ Differentiated Willis Platform® enabling capital-efficient growth ▪ Strong balance sheet supporting consistent financial performance Right Platform Right Market Right Time The right platform in the right market at the right time

 
APPENDIX

 
Consolidated Quarterly Statements of Income 1

 
14 Consolidated Quarterly Statements of Income (unaudited) in (000s) Q2 2026 Q2 2025 Lease rent revenue $ 77,137 $ 72,268 Maintenance reserve revenue 46,456 50,743 Spare parts and equipment sales 21,180 30,354 Interest revenue 1,183 3,649 Gain on sale of leased equipment 32,038 27,582 Gain on sale of financial assets 154 — Maintenance services revenue 8,983 8,031 Management and advisory fees 5,524 2,588 Other revenue 1,362 287 Total Revenue 194,017 195,502 Depreciation and amortization expense 29,068 27,550 Cost of spare parts and equipment sales 15,097 28,102 Cost of maintenance services 10,350 8,621 Write-down of equipment 4,910 11,458 General and administrative 55,559 50,429 Technical expense 9,947 7,508 Net finance costs 35,110 33,569 Total Expenses $ 160,041 $ 167,237 Income from Operations $ 33,976 $ 28,265 Gain on sale of business — 42,950 Income from investments 4,172 3,082 Income Before Income Taxes $ 38,148 $ 74,297 Income tax expense 7,828 13,920 Net Income $ 30,320 $ 60,377 Net Income Attributable to NCI 152 — Net Income Attributable to WLFC $ 30,168 $ 60,377 Preferred Stock Dividends 1,353 1,353 Accretion of Preferred Stock Costs 70 69 Net Income Applicable to Common Shares $ 28,745 $ 58,955

 
Consolidated Balance Sheets 2

 
16 Consolidated Balance Sheets in (000s) June 30, 2026 (1) December 31, 2025 Cash and cash equivalents $ 10,725 $ 16,441 Restricted cash 161,497 530,500 Equipment held for operating lease, less accumulated depreciation 2,783,382 2,801,683 Maintenance rights 83,632 30,632 Equipment held for sale 77,002 20,509 Spare parts inventory 51,402 56,577 Property, equipment & furnishings, less accumulated depreciation 76,904 73,835 Intangible assets, net 8,295 271 All Other Assets 400,337 405,867 Total Assets $ 3,653,176 $ 3,936,315 Debt, net 2,320,904 2,700,338 All Other Liabilities 558,396 510,439 Total Liabilities $ 2,879,300 $ 3,210,777 Redeemable preferred stock ($0.01 par value) 63,540 63,401 Total shareholders’ equity $ 710,336 $ 662,137 Total liabilities, redeemable preferred stock and shareholders’ equity $ 3,653,176 $ 3,936,315 1) Unaudited.

 
Reconciliation of Non-GAAP Measures 3

 
18 Adjusted EBITDA Reconciliation (unaudited)(1) Q2 2026 and Q2 2025 in (000s) Q2 2026 Q2 2025 Net income attributable to common shareholders $ 28,745 $ 58,955 Add: Income tax expense 7,828 13,920 Add: Interest expense 29,689 33,569 Add: Preferred stock dividends/costs 1,423 1,422 Add: Loss on debt extinguishment 5,421 - Add: Depreciation and amortization expense 29,068 27,550 Add: Stock compensation expense 12,703 16,751 Add: Write-down of equipment 4,910 11,458 Add: Acquisition, financing and divestitures related expenses 2,560 662 Add: Other (2) (1,610) (48,226) Adjusted EBITDA $ 120,737 $ 116,061 1) We define Adjusted EBITDA as net income attributable to common shareholders, excluding (i) income tax expense, (ii) interest expense, (iii) preferred stock dividends/costs, (iv) loss on debt extinguishment, (v) depreciation and amortization expense, (vi) stock compensation expense, (vii) write-down of equipment, (viii) acquisition, financing and divestitures related expenses, and (ix) other items not indicative of our ongoing operating performance. 2) During the three months ending June 30, 2026, the Company recognized non-recurring project expenses of $(1.6) million related to its sustainable aviation fuel project. The negative expense recognized during the three-month period reflects government grant proceeds recognized in the second quarter of 2026. During the three months ending June 30, 2025, the Company recognized non-recurring project expenses of $(5.3) million related to its sustainable aviation fuel project, for which the Company subsequently decided to cease further investment. The negative expense recognized during the three-month period reflects government grant proceeds received in the second quarter of 2025. Additionally, during the three June 30, 2025, the Company recognized $43.0 million in relation to the gain on sale of the BAML business.