Avation PLC Announces TENDER OFFER AMENDMENT

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

AVATION PLC

("Avation" or the "Company")

AVATION CAPITAL S.A.

(the "Issuer")

OFFER TO PURCHASE ITS 9.00%/8.25% SENIOR PIK TOGGLE NOTES MATURING OCTOBER 31, 2026 ISSUED UNDER THE US$1,000,000,000 GLOBAL MEDIUM TERM NOTE PROGRAMME AND GUARANTEED BY AVATION PLC AND AVATION GROUP (S) PTE. LTD. FOR UP TO US$100,000,000 IN AGGREGATE CASH CONSIDERATION (THE "TENDER OFFER")

Extension of Early Participation Date and Expiration Date, Amendment of Long Stop Date, Increase in Tender Cap and Setting the Total Consideration at a Fixed Price of US$860 per US$1,000 principal amount of Notes

SINGAPORE, SINGAPORE / ACCESSWIRE / January 27, 2023 / Reference is made to the Company's announcement ("Announcement") dated October 19, 2022 and the offer to purchase dated October 19, 2022, as amended and supplemented by Supplement no. 1 dated October 25, 2022, Supplement no. 2 dated November 2, 2022, Supplement no. 3 dated November 18, 2022, Supplement no. 4 dated November 30, 2022 and Supplement no. 5 dated December 14, 2022 (the "Original Offer to Purchase") in relation to the Tender Offer.

The Issuer has made certain amendments to the Tender Offer and Original Offer to Purchase as set out below. Such amendments and consequential changes are reflected in the amended and restated offer to purchase dated January 26, 2023 (as it may be further amended, modified, varied, supplemented, replaced or restated from time to time, the "Amended and Restated Offer to Purchase"), which amends, restates and supersedes the Original Offer to Purchase. Capitalised terms not otherwise defined in this announcement shall have the same meanings assigned to them in the Announcement and/ or the Amended and Restated Offer to Purchase (as the case may be).

Extension of the Early Participation Date and Expiration Date and Amendment of the Long Stop Date

The Early Participation Date and Expiration Date, which were both previously scheduled for 11:59 P.M., New York City Time, on January 26, 2023, have been extended to 11:59 P.M., New York City Time on February 9, 2023, unless further extended or earlier terminated. The Long Stop Date has been amended and the new Long Stop Date is August 9, 2023, being 6 months following the new Expiration Date.