CDB Aviation Joins Heart Aerospace’s Advisory Board to Advance Hybrid-Electric Aircraft Development

DUBLIN, Ireland – October 13, 2022 – CDB Aviation, a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDB Leasing”), announced today that the lessor has joined leading lessors, airlines and airports on Heart Aerospace’s Industry Advisory Board, which together aim to advance the development of hybrid-electric regional aviation with the ES-30.

Patrick Hannigan, Chief Executive Officer of CDB Aviation, commented on the lessor’s role on the Advisory Board, emphasizing that ” CDB Aviation is committed to building a sustainable future for aviation. That is why we are so pleased to lend our support to Heart Aerospace’s bold vision for hybrid/electric aviation. The 30-seat Heart ES-30 has the potential to replace current generation regional aircraft with zero emissions hybrid technology within this decade. We look forward to working with Heart Aerospace and its Industry Advisory Group partners to help shape an exciting and investor-friendly sustainable future for regional aviation.”

On September 15, Swedish OEM, Heart Aerospace, unveiled a new Industry Advisory Board for its first electric airplane, the ES-30. This regional aircraft, with seating capacity for 30 passengers, will be powered by a combination of #electricpower and Sustainable Aviation Fuel (#SAF). The ES-30 will have a fully electric, zero-emissions range of 200 km with the flexibility of up to 800 km as a hybrid.

Read the Heart Aerospace announcement at http://heartaerospace.com/new-industry-advisory-board/

Forward-Looking Statements

This press release contains certain forward-looking statements, beliefs or opinions, including with respect to CDB Aviation’s business, financial condition, results of operations or plans. CDB Aviation cautions readers that no forward-looking statement is a guarantee of future performance and that actual results or other financial condition or performance measures could differ materially from those contained in the forward-looking statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as “may”, “will”, “seek”, “continue”, “aim”, “anticipate”, “target”, “projected”, “expect”, “estimate”, “intend”, “plan”, “goal”, “believe”, “achieve” or other terminology or words of similar or analogous meaning. These statements are based on the current beliefs and expectations of CDB Aviation’s management and are subject to significant risks and uncertainties. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events or otherwise.

About CDB Aviation

CDB Aviation is a wholly owned Irish subsidiary of China Development Bank Financial Leasing Co., Limited (“CDB Leasing”), a 36-year-old Chinese leasing company that is backed mainly by the China Development Bank. CDB Aviation is rated Investment Grade by Moody’s (A2), S&P Global (A), and Fitch (A+). China Development Bank is under the direct jurisdiction of the State Council of China and is the world’s largest development finance institution. It is also the largest Chinese bank for foreign investment and financing cooperation, long-term lending and bond issuance, enjoying Chinese sovereign credit rating.

CDB Leasing is the only leasing arm of the China Development Bank and a leading company in China’s leasing industry that has been engaged in aircraft, infrastructure, ship, commercial vehicle and construction machinery leasing and enjoys a Chinese sovereign credit rating. It took an important step in July 2016 to globalize and marketize its business – listing on the Hong Kong Stock Exchange (HKEX STOCK CODE: 1606). www.CDBAviation.aero