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Hamilton, Bermuda:  19 May 2023 – In a filing with the Bermuda Stock Exchange (“BSX”), Fly Leasing Limited, advised of the appointment of an alternate director. The full filing stated:

 Fly Leasing Limited

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7.000% Senior Notes due October 15, 2024

Listed Since: 2021/08/18

Currency: USD

CUSIP: G2002C AA8 ISIN: USG2002CAA83

Telephone: 353-1-231-1900

www.flyleasing.com

Hamilton, Bermuda – 19 May 2023

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Appointment of Alternate Director

 On 15 May 2023, Marcus Miller, a director of Fly Leasing Limited (the “Company”), appointed Aimee Powderly as his alternate director to so serve until the next annual general meeting of the Company or until her appointment is otherwise terminated in accordance with the bye-laws of the Company.

 Forward-Looking Statements:

Certain statements and indicative projections (which may include modelled loss scenarios) made in this announcement or otherwise that are not based on current or historical facts are forward-looking in nature including, without limitation, statements containing the words “believes”, “anticipates”, “aims”, “plans”, “projects”, “forecasts”, “guidance”, “intends”, “expects”, “estimates”, “predicts”, “may”, “can”, “likely”, “will”, “seeks”, “should”, or, in each case, their negative or comparable terminology.

 All forward-looking statements in this announcement speak only as at the date of publication. Fly expressly disclaims any obligation or undertaking (save as required to comply with any legal or regulatory obligations including the rules of the BSX) to disseminate any updates or revisions to any forward-looking statement to reflect any changes in Fly’s expectations or circumstances on which any such statement is based. All subsequent written and oral forward-looking statements attributable to Fly or individuals acting on behalf of Fly are expressly qualified in their entirety by this note. Prospective investors should specifically consider the factors identified in this announcement which could cause actual results to differ before making an investment decision.

 Media contacts:

 Kristen Greco

(212) 813-4763

kristen.greco@carlyle.com

The Carlyle Group

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