OVERVIEW OF TRANSACTION

On September 20, 2016 Dubai Aerospace Enterprise (DAE) Ltd. announced the singing of a definitive agreement to acquire 80% of Jordan Aircraft Maintenance Limited (“JorAMCo”) from The Abraaj Group (“Abraaj”). Established in 1963, JorAMCo is a leading independent commercial aircraft maintenance, repair & overhaul (“MRO”) company serving a wide range of customers in the Middle East, Europe, South Asia, Africa, Russia and the CIS countries. Based in Queen Alia International Airport in Amman, JorAMCo offers services on several aircraft models including Airbus, Boeing and Embraer.

JorAMCo is certified by several regulatory authorities including the Jordan Civil Aviation Regulatory Commission (“JCARC”), the U.S. Federal Aviation Administration (“FAA”), the European Aviation Safety Agency (“EASA”) and the UAE General Civil Aviation Authority (“GCAA”).

SIGNIFICANCE OF TRANSACTION

Following years of profitable growth under Abraaj’s ownership, the acquisition of JorAMCo by DAE is expected to accelerate the growth trajectory of the company by expanding its product offerings, customer reach and geographic area of focus. The sale of JorAMCo represents the largest M& A transaction in the Jordanian market in 2016.

SIGNIFICANCE OF TRANSACTION