 NEW YORK, July 30, 2020 GLOBE NEWSWIRE -- Fortress Transportation and Infrastructure Investors LLC NYSE:FTAI the Company or FTAI today reported financial results for the second quarter 2020. The Companys consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. Financial Overview in thousands, except per share data Selected Financial ResultsQ220 Net Cash Provided by Operating Activities56,458 Net Loss Attributable to Shareholders15,695 Basic and Diluted Loss per Common Share0.18 Funds Available for Distribution FAD 147,309 Adjusted EBITDA166,472 ___ 1 For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release. For the second quarter of 2020, total FAD was 47.3 million. This amount includes 82.1 million from our aviation leasing portfolio, offset by 6.7 million from our infrastructure business and 28.1 million from corporate and other. Second Quarter 2020 DividendsOn July 30, 2020, the Companys Board of Directors the Board declared a cash dividend on its common shares of 0.33 per share for the quarter ended June 30, 2020, payable on August 31, 2020 to the holders of record on August 17, 2020.Additionally, on July 30, 2020, the Board declared cash dividends on its Fixed-to-Floating Rate Series A Cumulative Perpetual Redeemable Preferred Shares Series A Preferred Shares and Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Shares Series B Preferred Shares of 0.51563 and 0.50000 per share, respectively, for the quarter ended June 30, 2020, payable on September 15, 2020 to the holders of record on September 1, 2020.Additional InformationFor additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Relations section of the Companys website, and the Companys Quarterly Report on Form 10-Q, when available on the Companys website. Nothing on the Companys website is included or incorporated by reference herein.Conference CallThe Company will host a conference call on Friday, July 31, 2020 at 8:00 A.M. Eastern Time. The conference call may be accessed by dialing 877 447-5636 from within the U.S. or 615 247-0080 from outside of the U.S. ten minutes prior to the scheduled start of the call; please reference FTAI Second Quarter 2020 Earnings Call. A simultaneous webcast of the conference call will be available to the public on a listen-only basis at the call, a replay of the conference call will be available after 12:00 P.M. on Friday, July 31, 2020 through midnight Friday, August 7, 2020 at 855 859-2056 from within the U.S. or 404 537-3406 from outside of the U.S., Passcode: 2065269.About Fortress Transportation and Infrastructure Investors LLCFortress 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 Note Regarding Forward-Looking StatementsCertain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on managements current expectations 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 the Companys control. The Company can give no assurance that its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations in the Companys most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Companys website 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 press release. 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 Companys expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.For further information, please contact:Alan Andreini Investor Relations Fortress Transportation and Infrastructure Investors LLC 212 798-6128 Information for Withholding AgentsThis announcement is intended to be a qualified notice as provided in the Internal Revenue Code the Code and the Regulations thereunder. For U.S. federal income tax purposes, the common dividend and the Series A Preferred and Series B Preferred dividends declared in July 2020 will be treated as a partnership distribution and guaranteed payments, respectively. For U.S. tax withholding purposes, the per share distribution components are as follows: Common Distribution Components Non-U.S. Long Term Capital Gain U.S. Portfolio Interest Income10.14500 U.S. Dividend Income2 Income Not from U.S. Sources30.18500 U.S. Long Term Capital Gain 4 Distribution Per Share 0.33000 Series A Preferred Distribution Components Guaranteed Payments50.51563 Distribution Per Share0.51563 Series B Preferred Distribution Components Guaranteed Payments50.50000 Distribution Per Share 0.50000 1Eligible for the U.S. portfolio interest exemption for any holder not considered a 10-percent shareholder under 871h3B of the Code. 2This income is subject to withholding under 1441 or 1442 of the Code. 3This income is not subject to withholding under 1441, 1442 or 1446 of the Code. 4U.S. Long Term Capital Gain attributable to the sale of a U.S. Real Property Holding Corporation. As a result, the gain will be treated as income that is effectively connected with a U.S. trade or business and be subject to withholding. 5Brokers and nominees should treat this income as subject to withholding under 1441 or 1442 of the Code. For U.S. shareholders: In computing your U.S. federal taxable income, you should not rely on this qualified notice, but should generally take into account your allocable share of the Companys taxable income as reported to you on your Schedule K-1. Exhibit - Financial Statements FORTRESS TRANSPORTATION AND INFRASTRUCTURE INVESTORS LLC CONSOLIDATED STATEMENTS OF OPERATIONS Unaudited Dollar amounts in thousands, except per share data Three Months Ended June 30, Six Months Ended June 30, 2020 2019 20202019 Revenues Equipment leasing revenues 79,834 79,200 166,283 151,652 Infrastructure revenues 14,475 70,648 40,866 113,090 Total revenues 94,309 149,848 207,149 264,742 Expenses Operating expenses 24,572 85,783 58,016 140,093 General and administrative 4,388 3,551 9,051 7,735 Acquisition and transaction expenses 3,661 2,308 6,855 3,782 Management fees and incentive allocation to affiliate 4,756 5,710 9,522 9,548 Depreciation and amortization 41,720 42,052 83,917 80,915 Asset impairment 10,476 10,476 Interest expense 21,794 25,394 44,655 46,128 Total expenses 111,367 164,798 222,492 288,201 Other expense income Equity in losses of unconsolidated entities 3,209 169 2,944 553 Gain loss on sale of assets, net 768 22,622 1,051 24,340 Loss on extinguishment of debt 4,724 Interest income 22 240 63 331 Other expense income 1 4,937 32 2,334 Total other expense income 2,420 27,630 8,624 26,452 Loss income from continuing operations before income taxes 19,478 12,680 23,967 2,993 Benefit from income taxes 3,750 2,328 3,848 2,061 Net loss income from continuing operations 15,728 15,008 20,119 5,054 Net income from discontinued operations, net of income taxes 785 1,331 943 Net loss income 15,728 15,793 18,788 5,997 Less: Net loss income attributable to non-controlling interests in consolidated subsidiaries: Continuing operations 4,112 4,580 8,848 7,940 Discontinued operations 41 15 Dividends on preferred shares 4,079 8,618 Net loss income attributable to shareholders 15,695 20,332 18,558 13,952 Loss earnings per share: Basic Continuing operations 0.18 0.23 0.23 0.15 Discontinued operations 0.01 0.02 0.01 Diluted Continuing operations 0.18 0.23 0.23 0.15 Discontinued operations 0.01 0.02 0. 