New commitment expands long-standing strategic partnership and builds on the success of two prior aircraft leasing portfolios

KKR, a leading global investment firm, and Altavair, a leader in commercial aviation leasing and financing, today announced that KKR is making a $1.4 billion equity commitment to continue expanding its global portfolio of leased commercial aircraft in partnership with Altavair. The latest commitment builds on two prior aircraft leasing portfolios created in partnership with Altavair. The investment will primarily come from KKR's Infrastructure and Asset-Based Finance strategies.

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"Nearly a decade of strategic partnership with Altavair has deepened our conviction in the attractiveness of aircraft leasing, which we believe is poised to grow even further as demand for air travel continues to rise and airlines seek more liquidity and fleet flexibility," said Brandon Freiman, Partner and Head of North American Infrastructure at KKR.

KKR-managed funds have committed more than $8 billion to aircraft leasing and lending transactions since KKR formed a strategic partnership with Altavair in 2018. Over that time, KKR and Altavair have acquired 188 commercial aircraft and engine assets through a variety of transactions, including lessor trades, airline-direct new and used sale leasebacks, passenger-to-freight conversions, and structured transactions, and in the process have leased aircraft and engines to 67 leading airline and cargo operators around the world.

"We are pleased to deepen our long-standing relationship with Altavair and strengthen our commitment to the aviation sector through our Asset-Based Finance strategy," said Daniel Pietrzak, Partner and Global Head of Private Credit at KKR. "The success of our strategic partnership is a testament to the power of combining our patient, long-term capital with Altavair's deep industry expertise and differentiated sourcing capabilities."

"Our strategic partnership with KKR has grown stronger over the past eight years, and this latest commitment reflects the trust we have built together," said Steve Rimmer, CEO of Altavair. "KKR's expertise, and long-term capital have helped build Altavair into the platform it is today. As airlines face significant fleet funding needs in the coming years, this expanded commitment positions us to be an even stronger partner and supporter across the aviation ecosystem."

KKR has invested more than $12 billion of capital in the aviation sector since 2015. Investments include Altavair, AV AirFinance, Atlantic Aviation, KKR DVB Aviation Capital, K2 Aviation, and others.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.

About Altavair

Altavair is an aviation asset manager focusing on the acquisition of new and used commercial aircraft for leasing to domestic and international passenger airlines and cargo operators. Since its inception in 2003, Altavair has completed over $14.5 billion in commercial aircraft lease transactions with over 80 airline customers in 50 countries representing over 300 individual Boeing and Airbus aircraft. Altavair maintains offices in Seattle, Dublin, London, and Singapore. For more information, please visit www.altavair.com.

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Media Contacts:

KKR:

media@kkr.com

Altavair:

Nick Hazeldine

nick.hazeldine@altavair.com

KKR Commits $1.4 Billion to Aircraft Leasing with Altavair