How does Russia’s invasion of Ukraine affect the values of aircraft in Russia?

Russia’s invasion of Ukraine and the resultant sanctions imposed on Russian airlines, lessors,
financial institutions, etc., as well as the Russian government’s attempt to nationalize aircraft from
foreign owners, are having a significant impact on the ability of foreign owners to retrieve their aircraft,
engines and associated technical records from Russia. In the weeks after the initial invasion, there
were a number of successful repossessions, but these account for a minority of cases, and
repossessing any aircraft that remain in Russia, or obtaining rent payments from the lessee, is highly
unlikely.

All values provided through Values Analyzer assume that both the subject aircraft or engine and its
technical records and documentation are available and accessible to both current and any potential
future owners/buyers worldwide. We also assume that the aircraft is maintained using FAA/EASA
certified material and in accordance with its manufacturer's MPD. In light of this, the values provided
for aircraft in Russia or coming out of Russia are hypothetical and conditioned on assumptions which
albeit possible, are very difficult to achieve.

The failure to meet all of the stated assumptions could result in varying degrees of impairment to the
values provided, although the level of value impairment could vary from aircraft to aircraft, and is
dependent on multiple variables (relating to accessibility, maintenance, technical records and
airworthiness) which have not been considered for the purpose of this appraisal. Please contact
Ascend by Cirium for more information about value impairment for a specific aircraft.