AAR launches 2023 ESG Summary Report

Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, launched its 2023 ESG Summary Report, demonstrating the Company’s continued efforts to focus on the environment, drive social responsibility, and govern with integrity.

AAR began publishing ESG reports in 2021 to share insight into its current initiatives and their alignment with the Company’s values, along with opportunities identified for future improvement.

New to the 2023 report is an ESG commitments statement and overview of ESG governance enhancements. This year, the Company also shared on the ESG page of its website its most recent EEO-1 report that provides demographics of the U.S-based segment of AAR’s workforce and continued to disclose data under GRI, SASB, and TCFD frameworks.

“Our 2023 ESG Summary Report demonstrates AAR’s commitment to positively shaping our impact on the environment, communities, and the industry,” said John M. Holmes, AAR’s Chairman, President and CEO. “I’m proud of our efforts to build on successes and create an even brighter future – together.”

Highlights from AAR’s 2023 ESG Summary Report include the Company’s successful efforts to:

• Install drag reduction kits on five commercial aircraft with the intent to reduce fuel consumption and carbon emissions
• Grow its leadership team with the addition of a Chief Human Resources Officer to lead its people strategy globally
• Expand its Fellowship Program that provides tuition assistance and employment opportunities as part of AAR’s commitment to growing the aviation workforce pipeline
• Prioritize diversity and inclusion, with the Company earning Newsweek recognition as one of America’s Greatest Workplaces for Diversity 2023
• Reduce its rate of recordable injuries; no employees sustained major injuries during FY2023
• Advance data privacy by creating and filling a new role to oversee the continued protection of the personal information the Company holds
• Strengthen its Supplier Code of Conduct and plan a “Speak Up” campaign to increase awareness of compliance practices

AAR’s complete 2023 ESG Summary Report is available on the ESG page of its website at aarcorp.com/en/about/environmental-social-and-governance-esg/.

About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services. Additional information can be found at aarcorp.com.

This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, which reflect management’s expectations about future conditions, including continued focus on ESG initiatives. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact:
Media Team
Corporate Marketing and Communications
+1-630-227-5100
Editor@aarcorp.com