LOS ANGELES, California, May 30, 2013 — Air Lease Corporation (NYSE: AL) (the “Company”) today announced the pricing of the underwritten public offering of 8,000,000 shares of its Class A Common Stock by affiliates of Ares Management LLC, Leonard Green & Partners, L.P. and WL Ross & Co. LLC. The shares of Class A Common Stock were offered to the public at $26.75 per share. The underwriter has a 30-day option from the date of the offering to purchase up to an additional 800,000 shares of Class A Common Stock from certain selling stockholders.

The offering is expected to close on June 5, 2013, subject to satisfaction of customary closing conditions. The Company is not selling any shares of Class A Common Stock in the offering and will not receive any proceeds from the sale. The total number of shares of the Company’s Class A Common Stock outstanding will not change as a result of this offering. Credit Suisse Securities (USA) LLC is acting as the book-running manager for the offering. The Class A Common Stock is being offered pursuant to a registration statement that the Company previously filed with the U.S. Securities and Exchange Commission (the “SEC”). The offering of the Class A Common Stock will be made only by means of a prospectus supplement and accompanying prospectus, which may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies may be obtained by contacting Credit Suisse Securities (USA) LLC, Attention: Credit Suisse Prospectus Department, One Madison Avenue, New York, NY 10010, telephone 1-800-221-1037, email: [email protected]. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to the closing of the offering. Such statements are based on current expectations and projections about our future results, prospects and opportunities and are not guarantees of future performance. Such statements will not be updated unless required by law. Actual results and performance may differ materially from those expressed or forecasted in forward-looking statements due to a number of factors, including those discussed in our filings with the Securities and Exchange Commission.