FTAI Aviation Ltd. (NASDAQ:FTAI) ("FTAI" or the "Company") today announced that J&F Power Systems LLC ("J&F"), FTAI's joint venture with Jereh Group for packaging and distribution of its Mod-1 aeroderivative gas turbine, has entered into a master gas turbine generator set supply agreement (the "Master Agreement") with a leading international cloud service provider (the "Customer") and signed an initial purchase order under the Master Agreement valued at $1.465 billion (the "Order"). This Order will account for a substantial number of FTAI Power’s targeted 2027 Mod-1 CFM56 aeroderivative unit deliveries.

Under the terms of the Order, J&F will supply Mod-1 mobile gas turbine generator sets supporting the Customer's power infrastructure buildout, with equipment to be delivered in batches through November 2027. The five-year Master Agreement allows the Customer to issue additional purchase orders to expand the relationship. Payments will be made on a milestone basis, beginning with an advance payment at signing and followed by progress payments through production, testing and completion of on-site commissioning. Final settlement amounts are subject to a performance adjustment mechanism, providing upward adjustments for equipment exceeding performance standards and downward adjustments, capped at 10% of the corresponding equipment's value for lower power output.