Business News

SIA ENGINEERING COMPANY AND SAFRAN AIRCRAFT ENGINES SIGN LETTER OF INTENT TO EXPAND CFM LEAP ENGINE MAINTENANCE SERVICES

Mainboard-listed SIA Engineering Company Limited (“SIAEC” or the “Company”) and Safran Aircraft Engines (“SAE”) have signed a Letter of Intent (“LOI”) to broaden their partnership in CFM LEAP (“LEAP”) engine maintenance in Singapore. Under this LOI, the parties will jointly explore options to expand the existing scope of services in their commercial agreement, including the potential formation of a Joint Venture in LEAP engine Maintenance, Repair and Overhaul (“MRO”) in Singapore. SIAEC currently performs LEAP engine Quick Turn maintenance for SAE at its Aircraft Engine Services facility in Changi North. Mr Wong Yue Jeen, Chief Commercial Officer of SIAEC, said: “We are delighted to deepen our partnership with SAE in support of its efforts to meet the growing global demand for LEAP engine maintenance. This collaboration builds upon SIAEC’s longstanding relationship with the Safran Group, and would potentially enable us to enhance our contribution to SAE’s LEAP maintenance network through the development of additional engine maintenance capabilities and capacity. With our strategic location in Singapore and proven technical expertise, we are well-positioned to add value and resilience to the LEAP maintenance network.” This LOI underscores our commitment to expanding our global MRO network and supporting the strong ramp-up of LEAP engine maintenance services”, said Mr Nicolas Potier, Executive Vice President Support & Services for SAE. “By combining SIAEC’s recognised expertise in LEAP engine maintenance with our own capabilities, we aim to deliver excellence and innovation in MRO, ensuring that our airline customers benefit from world-class standards and enhanced operational efficiency.” As at the date of this announcement, no definitive or binding agreements have been entered into or reached by SIAEC and SAE in respect of the matters contemplated by the LOI, and there is no assurance or certainty that such agreements will be entered into or reached or that such matters will be proceeded with. The Company will make the necessary announcement(s) in relation to the potential expansion of the collaboration between the parties as and when there are any material developments on the matter, including the signing of any definitive agreements. None of the Directors and controlling shareholders of SIAEC nor SAE has any interest, direct or indirect, in the LOI, other than through their shareholdings (if any) in SIAEC. * * * * * About SIA Engineering Company (Company Registration No. 198201025C) www.siaec.com.sg SIA Engineering Company (SIAEC) is a major provider of aircraft maintenance, repair and overhaul (MRO) services in Asia-Pacific. SIAEC has a client base of more than 80 international carriers and aerospace equipment manufacturers. It provides line maintenance services at more than 30 airports in 9 countries, as well as airframe, engine and component services on some of the most advanced and widely used commercial aircraft in the world. The 25 subsidiaries and joint ventures with original equipment manufacturers and strategic partners in Singapore, Cambodia, Hong Kong, Indonesia, Japan, Malaysia, the Philippines, the United States of America and Vietnam increase the depth and breadth of the Company’s service offerings. SIAEC has approvals from 27 national aviation regulatory authorities to provide MRO services for aircraft registered in the United States of America, Europe, China and other countries.  About Safran Aircraft Engines Safran is an international high-technology group operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 100,000 employees and sales of €27.3 billion in 2024, and holds, alone or in partnership, world or European leadership positions in its core markets. Safran Aircraft Engines designs, produces and sells, alone or in partnership, commercial and military aircraft engines offering world-class performance, reliability and environmental compliance. Through CFM International*, Safran Aircraft Engines is the world’s leading supplier of engines for single-aisle mainline commercial jets. * CFM International is a 50/50 joint venture between Safran Aircraft Engines and GE Aerospace. For more information, please contact: Tan May Lyn Manager Corporate SIA Engineering Company Limited Tel: +65 6548 1157 E-mail: [email protected]