GlobeNewswire Inc | Mar 18, 2021 08:55AM EDT

March 18, 2021

NEW YORK, March 18, 2021 (GLOBE NEWSWIRE) -- Fortress Transportation and Infrastructure Investors LLC(NYSE:FTAI) (the Company or FTAI) announced today its intention to offer Fixed-Rate Reset Series C Cumulative Perpetual Redeemable Preferred Shares, liquidation preference$25.00per share, representing limited liability company interests (the Preferred Shares), in a registered underwritten public offering. The Company intends to apply to list the Preferred Shares on theNew York Stock Exchangeunder the symbol FTAI PR C. In connection with the offering, the Company expects to grant to the underwriters a 30-day option to purchase up to an additional 15% of the Preferred Shares being offered to cover over-allotments, if any.

The Company intends to use the net proceeds from this offering for general corporate purposes, including the funding of future acquisitions and investments, including aviation investments.

Morgan Stanley, Citigroup, J.P. Morgan, Stifel and UBS Investment Bank are acting as joint book-running managers for the proposed offering.

The offering is being made pursuant to the Companys effective shelf registration statement on Form S-3 filed with theSecurities and Exchange Commission(SEC). The offering will be made only by means of a prospectus and a related prospectus supplement. Prospective investors should read the prospectus supplement and the prospectus in that registration statement and other documents the Company has filed or will file with theSECfor more complete information about the Company and the offering. You may obtain these documents for free by visiting EDGAR on the SECs website atwww.sec.gov. Alternatively, copies of the prospectus and prospectus supplement may be obtained from Morgan Stanley & Co. LLC, 180 Varick Street - New York, NY 10014, Attention: Prospectus Department, telephone (866) 718-1649, email: prospectus@morganstanley.com; Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146, email: prospectus@citi.com, J.P. Morgan Securities LLC, 383 Madison Ave, New York, NY 10179, Attn Investment Grade Syndicate Desk, telephone (212) 834-4533; Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, MD 21202, telephone: (855) 300-7136, email: syndprospectus@stifel.com; or UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, New York 10019, telephone (888) 827-7275.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

AboutFortress Transportation and Infrastructure Investors LLC

Fortress Transportation and Infrastructure Investors LLC owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including but not limited to the Companys anticipated use of the net proceeds from the offering. Forward-looking statements are not statements of historical fact but instead are based on our present beliefs and assumptions and on information currently available to us. You can identify these forward-looking statements by the use of forward-looking words such as outlook, believes, expects, potential, continues, may, will, should, could, seeks, approximately, predicts, intends, plans, estimates, anticipates, target, projects, contemplates or the negative version of those words or other comparable words. Any forward-looking statements contained in this press release are based upon our historical performance and on our current plans, estimates and expectations in light of information currently available to us. The inclusion of this forward-looking information should not be regarded as a representation by us that the future plans, estimates or expectations contemplated by us will be achieved. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business, prospects, growth strategy and liquidity. Accordingly, there are or will be important factors that could cause our actual results to differ materially from those indicated in these statements, including, but not limited to, the risk factors set forth in Item 1A. Risk Factors of the Companys Annual Report on Form 10-K for fiscal year endedDecember 31, 2020, as updated by annual, quarterly and other reports the Company files with theSEC.

For further information, please contact:

Alan AndreiniInvestor RelationsFortress Transportation and Infrastructure Investors LLC(212) 798-6128aandreini@fortress.com