Standard Chartered announces completion of sale of its global aviation finance leasing business to AviLease

Dublin, London, Hong Kong – Following the announcement in August 2023 of the sale of our global aviation finance leasing business to Aircraft Leasing Company (“AviLease“), Standard Chartered (‘the Group’) confirms the sale closed today, 2 November 2023.

AviLease has acquired the business for cash consideration of US$0.7 billion and has funded the repayment of approximately US$2.9 billion of net intra-group financing from the Group.

The Group will benefit from an increase in Common Equity Tier 1 capital ratio of around 19 basis points, which will be included in its year end capital position. Completion of the sale represents significant further progress on the Group’s strategic priorities.

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For further information please contact:

Claire Newell

Head of Communications for UK and Europe

Tel: +44 (0)207 885 8857

Email: Claire.newell@sc.com

Piers Townsend

Global Head of Communications for Corporate, Commercial and Institutional Banking

Tel: +65 9005 9067

Email: Piers.Townsend@sc.com

Gregg Powell

Global Head of Investor Relations

Tel: +44 (0) 20 7885 5172

Email: Gregg.J.Powell@sc.com

Adnan Akhtar

Head of Sell-Side, Investor Relations

Tel: +44 (0) 20 7885 7255

Email: Adnan.Akhtar2@sc.com