29/04/2022 - Fortress Investment Group LLC: FTAI Q1 ’22 Earnings Supplement

Fortress Transportation and Infrastructure Investors LLC

Supplemental Information

First Quarter 2022

Disclaimers

IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the "Presentation."

FORWARD-LOOKING STATEMENTS. Certain statements in this Presentation may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, of Fortress Transportation and Infrastructure Investors LLC (referred to in this Presentation as "FTAI," the "Company," or "we"), including without limitation, ability to achieve key investment objectives, ability to successfully integrate acquired businesses and realize the anticipated benefits of acquisitions, expansion and growth opportunities, pipeline activity and investment of existing cash, ability to successfully close deals for which we have letters of intent or "LOIs", actual results as compared to annualized data, expectations regarding additional Funds Available for Distribution ("FAD") and/or EBITDA from investments, ability to successfully complete the previously announced spin-off of our infrastructure business on the terms and timeline contemplated, whether equipment will be able to be leased, ability to achieve ESG initiatives and reach ESG targets, bank borrowings and future debt and leverage capacity, financing activities and other such matters. These statements are based on management's current expectations, estimates and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond our control. FTAI can give no assurance that its expectations will be attained. Accordingly, you should not place undue reliance on any forward-looking statements made in this Presentation. For a discussion of some of the risks and important factors that could affect such forward-looking statements including, but not limited to the ongoing COVID-19 pandemic, see the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's most recent annual report on Form 10-K and quarterly report on Form 10-Q (when available) and other filings with the U.S. Securities and Exchange Commission, which are included on the Company's website (www.ftandi.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward- looking statements speak only as of the date of this Presentation. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

PAST PERFORMANCE. Past performance is not a reliable indicator of future results and should not be relied upon for any reason. Annualized data is presented for illustrative purposes only and should not be considered indicative of future performance or actual results for any period.

NO OFFER; NO RELIANCE. This Presentation is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security and may not be relied upon in connection with the purchase or sale of any security. Any such offer would only be made by means of formal documents, the terms of which would govern in all respects. You should not rely on this Presentation as the basis upon which to make any investment decision.

NON-GAAP FINANCIAL INFORMATION. This Presentation includes information based on financial measures that are not recognized under generally accepted accounting principles (GAAP), such as Adjusted EBITDA and FAD. You should use Non‐GAAP information in addition to, and not as an alternative to, financial information prepared in accordance with GAAP. See Reconciliation and Glossary in the Appendix to this Presentation for reconciliations to the most comparable GAAP measures and an explanation of each of our Non-GAAP measures. Our Non-GAAP measures may not be identical or comparable to measures with the same name presented by other companies. Reconciliations of forward-looking Non-GAAP financial measures to their most directly comparable GAAP financial measures are not included in this Presentation because the most directly comparable GAAP financial measures are not available on a forward-looking basis without unreasonable effort.

FTAI Overview

Fortress Transportation and Infrastructure Investors (NYSE: FTAI) owns and operates high quality transportation and infrastructure assets

• ▪ Diversified portfolio across the equipment leasing and infrastructure sectors

• ▪ Key investment objectives(1):

  • o Combine income & growth through a mix of equipment & infrastructure

  • o Pay a stable & growing dividend

Equipment Leasing(2)

Infrastructure(3)

~$2.1 billion book equity

• ✓ Aviation Leasing Platform

• ✓ Repair & Maintenance (Aerospace) Products

• ✓ Commitment to ESG and decarbonization

• ✓ Contracted Cash Flows

~$1.3 billion book equity

• ✓ Jefferson Terminal

• ✓ Long Ridge Terminal

• ✓ Repauno Port & Rail Terminal

• ✓ Transtar Rail

• ✓ Investments in clean energy technologies & facilities

• ✓ Irreplaceable Assets w/ Multiple Growth Opportunities

• 1) See "Disclaimers" at the beginning of the Presentation.

• 2) Equipment Leasing business is comprised of the Aviation Leasing segment, and Offshore Energy & Shipping Containers. Book equity is calculated as total equity less non-controlling interest in equity of consolidated subsidiaries as of March 31, 2022.

• 3) Infrastructure business is comprised of Jefferson Terminal, Ports & Terminals, Transtar, car cleaning assets and investments in FYX, Aleon and Clean Planet. Book equity is calculated as total equity less non-controlling interest in equity of consolidated subsidiaries as of March 31, 2022.

First Quarter Highlights

• ▪ Board of Directors unanimously approved the spin-off on April 28

• ▪ Filing Form 10 with the SEC on or before April 29

• ▪ On schedule to complete spin-off in 4-8 weeks

• ▪ Adjusted EBITDA of $51.6 million(2), or approximately $120 million excluding non-recurring items related to the Russian invasion of Ukraine (bad debt expense of $48mm and lost revenue of ~$24mm)

• ▪ Net Loss Attributable to Shareholders of $229.0 million (includes $123mm of asset impairment charges, in addition to the above items)

• ▪ Total Funds Available for Distribution ("FAD") of $71.4 million(2)

Aviation

• ▪ Invested ~$235.5 million in Aviation leasing equipment in Q1'22

• ▪ Robust pipeline of aviation opportunities, with ~$79.5 million of in-place LOIs outstanding at March 31, 2022(1,3)

• ▪ Since inception of The Module Factory, completed or contracted for sale over 200 modules sales or swaps(1)

Infrastructure

• ▪ Continued to advance on all expansion projects on schedule and on budget

Long Ridge

• ▪ Commenced hydrogen blending, becoming the first U.S. based large frame power plant to run on hydrogen

• 1) See "Disclaimers" at the beginning of the Presentation.

• 2) This is a Non-GAAP measure. See Reconciliation of Non-GAAP Measures section in Appendix for a reconciliation to the most comparable GAAP measure.

• 3) In-place LOIs represent understandings and arrangements in place. There can be no assurance that we will be successful in acquiring any such assets or, if acquired, that they will generate returns meeting our expectations, or at all. Some of our committed investments and pipeline investments are subject to definitive documentation, agency consent and board approval. Committed investments and pipelineinvestments are also subject to varying degrees of diligence. There can be no assurance that we will complete any such investments or transactions.

Consolidated Financial Results

• ▪ Q1'22 Financial Results

  • ✓ Net Loss Attributable to Shareholders of $229.0 million

  • ✓ Adjusted EBITDA of $51.6 million(1)

  • ✓ Net Cash Provided by Operating Activities of $1.9 million

  • ✓ Total FAD of $71.4 million(1)

($s in millions, except per share amounts)

• ▪ Q1'22 Balance Sheet

  • ✓ Total Assets of $4.8 billion

  • ✓ Total Debt of $3.4 billion (net of $69.6mm deferred financing costs)

  • ✓ Total Cash of $145.3 million

Financial Overview

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