BOC Aviation Limited (“BOC Aviation” or the “Company”) is pleased to announce that it has agreed to purchase and leaseback two Airbus A350-1000 aircraft to new customer Philippine Airlines Inc. (“PAL”) on long-term operating leases. Both aircraft will be powered by Rolls Royce Trent XWB engines, with the first delivery scheduled for December 2025.

“We are delighted to welcome PAL as a new customer. This is our first A350-1000 delivery and underscores our commitment to supporting the industry’s development with latest-technology aircraft,” said Steven Townend, Chief Executive Officer and Managing Director, BOC Aviation. “As a global aircraft operating lessor, and the largest headquartered in Asia, our financial strength and orderbook allows us to support the growth our airline customers with both capital and capacity.”

“The addition of the Airbus A350-1000 to our fleet marks a pivotal step in Philippine Airlines’ ongoing fleet modernization program,” said Richard Nuttall, President of Philippine Airlines. “This investment not only aligns with our commitment to operating one of the youngest and most fuel-efficient fleets in the region, but also ensures we can deliver world-class comfort, reliability, and efficiency to our passengers. Our partnership with BOC Aviation reinforces our strategy to enhance our global competitiveness while supporting the sustainable growth of our network.”

About BOC Aviation

BOC Aviation is a leading global aircraft operating leasing company with a portfolio of 812 aircraft and engines owned, managed and on order. Its owned and managed fleet was leased to 88 airlines in 46 countries and regions worldwide as at 30 September 2025. BOC Aviation is listed on the Hong Kong Stock Exchange (HKEx code: 2588) and has its headquarters in Singapore with offices in Dublin, London, New York and Tianjin. For more information, visit www.bocaviation.com.

About Philippine Airlines (PAL)

Philippine Airlines (PAL) is the Philippines’ flag carrier and only full-service network airline, as well as the first commercial airline in Asia. PAL's fleet of Boeing, Airbus, and De Havilland aircraft operate scheduled nonstop flights out of hubs in Manila, Cebu, Clark, and Davao to 31 destinations in the Philippines and 39 destinations in Asia, North America, Australia, and the Middle East.  PAL also offers air cargo and charter services, while providing seamless connections throughout the nation and across the world.  PAL is an APEX Four™ Star recipient and has achieved the highest on-time performance among Asia-Pacific carriers for three consecutive months (August to October 2025), according to Cirium. For more information, visit www.philippineairlines.com.