TRIUMPH ANNOUNCES SALE OF PRODUCT SUPPORT BUSINESS TO AAR

Triumph Group, Inc. (NYSE: TGI) ("TRIUMPH" or the "Company") announced today that it has entered into a definitive agreement with AAR CORP. (NYSE: AIR) to sell its Product Support business. The transaction is valued at $725 million, representing a 14.5x trailing 12 months Adjusted EBITDAP multiple as of September 30, 2023. The primary intended use of proceeds from the transaction is debt reduction. The net after-tax proceeds are expected to be approximately $700 million, resulting in pro forma net leverage of approximately 4.0x net debt to Adjusted EBITDAP as of March 2024. The Product Support business is an industry leader in the Maintenance, Repair and Overhaul (MRO) of structures and airframe and engine accessories, servicing both the commercial and military aftermarkets across five primary locations. The business generated revenues of approximately $268 million for the trailing 12 months ended September 30, 2023. "We are pleased to enter into this transformative agreement which

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TRIUMPH ANNOUNCES SALE OF PRODUCT SUPPORT BUSINESS TO AAR