10-K/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-K/A

(Amendment No. 1)

☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2020

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission File Number 1-2328

GATX Corporation

(Exact name of registrant as specified in its charter)

New York	36-1124040
(State or Other Jurisdiction of incorporation or Organization)	(I.R.S. Employer Identification No.)

233 South Wacker Drive

Chicago, IL 60606-7147

(Address of principal executive offices, including zip code)

(312) 621-6200

(Registrant's telephone number, including area code)

Securities Registered Pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock	GATX	New York Stock Exchange
		Chicago Stock Exchange
5.625% Senior Notes due 2066	GMTA	New York Stock Exchange

Securities Registered Pursuant to Section 12(g) of the Act:

None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.  Yes þ     No o

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.  Yes o     No þ

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes þ     No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ  No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer	þ	Accelerated filer	o
Non-accelerated filer	o	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    o

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).  Yes o     No þ

The aggregate market value of the voting and non-voting stock held by non-affiliates of the registrant was approximately $2.1 billion as of June 30, 2020.

There were 35.1 million common shares outstanding at January 31, 2021.

DOCUMENTS INCORPORATED BY REFERENCE

GATX’s definitive Proxy Statement filed on March 12, 2021 PART III

Explanatory Note

On February 18, 2021, GATX Corporation (the "Company") filed with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended December 31, 2020.

This amendment No. 1 to Form 10-K ("Amendment No. 1") of the Company is being filed solely to amend Item 15(c) to include the separate financial statements of Alpha Partners Leasing Limited ("APLL") as required under Rule 3-09 of Regulation S-X. The financial statements of APLL for its fiscal year ended December 31, 2020 were not available at the time the Company filed its Annual Report on Form 10-K. The required financial statements are now provided as Exhibit 99.1 to this Amendment No. 1.

Item 15 is the only portion of the Company's Annual Report on Form 10-K being supplemented or amended by this Amendment No. 1. This Amendment No. 1 does not change any other information set forth in the original filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2020. This Amendment No. 1 consists solely of the preceding cover page, this explanatory note, the information required by Item 15(c) of Form 10-K as provided in Exhibit 99.1, a signature page, the consent of the independent auditors for APLL, and certifications required to be filed as exhibits hereto.

Item 15.  Exhibits, Financial Statement Schedules

(a) 1.  Financial Statements

	Page *
Documents Filed as Part of this Report:
Report of Independent Registered Public Accounting Firm with respect to the consolidated financial statements	58
Consolidated Balance Sheets — December 31, 2020 and 2019	60
Consolidated Statements of Comprehensive Income — Years Ended December 31, 2020, 2019, and 2018	61
Consolidated Statements of Cash Flows — Years Ended December 31, 2020, 2019, and 2018	62
Consolidated Statements of Changes in Shareholders’ Equity — Years Ended December 31, 2020, 2019, and 2018	63
Notes to Consolidated Financial Statements	64
Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting	110

_______

(*) Refers to the page numbers in the Company's Annual Report on Form 10-K filed on February 18, 2021.

2.    Financial Statement Schedules:

Schedules for which provision is made in the applicable accounting regulations of the Securities and Exchange Commission are not required under the related instructions or are inapplicable, and, therefore, have been omitted.

3. Exhibits.

(c) Separate financial statements of subsidiaries not consolidated and fifty percent or less owned persons.

Under Rule 3-09 of Regulation S-X, we are required to file separate unaudited consolidated financial statements of Alpha Partners Leasing Limited ("APLL"), the foreign entities of the Rolls-Royce & Partners Finance joint ventures, for the year ended December 31, 2020. The results of APLL were significant to GATX in 2019 under Rule 3-09 of Regulation S-X. The financial statements included in Exhibit 99.1 for the years ended December 31, 2020, 2019 and 2018 are filed as part of Item 15 of the Company's Annual Report filed on February 18, 2021 and should be read in conjunction with the Company's consolidated financial statements.

EXHIBIT INDEX

Exhibit Number	Exhibit Description
Filed with this Report:
21**	Subsidiaries of the Registrant.
23**	Consent of Ernst & Young LLP, Independent Registered Public Accounting Firm.
23.1	Consent of PricewaterhouseCoopers LLP, Independent Auditors.
24**	Powers of Attorney with respect to the Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
31.1	Certification Pursuant to Exchange Act Rule 13a-14(a) and Rule 15d-14(a) (CEO Certification).
31.2	Certification Pursuant to Exchange Act Rule 13a-14(a) and Rule 15d-14(a) (CFO Certification).
32	Certification Pursuant to 18 U.S.C. Section 1350 (CEO and CFO Certification).
99.1	Financial Statements of Alpha Partners Leasing Limited.
101**	The following materials from GATX Corporation’s Annual Report on Form 10-K for the year ended December 31, 2020, are formatted in Inline XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets at December 31, 2020 and December 31, 2019, (ii) Consolidated Statements of Comprehensive Income for the years ended December 31, 2020, 2019, and 2018, (iii) Consolidated Statements of Cash Flows for the years ended December 31, 2020, 2019, and 2018, (iv) Consolidated Statements of Changes in Shareholders' Equity for the years ended December 31, 2020, 2019, and 2018, and (v) Notes to the Consolidated Financial Statements.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).
Incorporated by Reference:
3.1	Restated Certificate of Incorporation of GATX Corporation is incorporated herein by reference to Exhibit 3.2 to GATX’s Form 8-K dated October 31, 2013, file number 1-2328.

3.2	Amended and Restated By-Laws of GATX Corporation, as amended and restated on April 20, 2020, are incorporated herein by reference to Exhibit 3.1 of GATX’s Form 8-K dated April 21, 2020, file number 1-2328.
4.1	Indenture dated as of November 1, 2003 between GATX Financial Corporation and JP Morgan Chase Bank is incorporated herein by reference to Exhibit 4Q to GATX Financial Corporation’s Annual Report on Form 10-K for the fiscal year ended December 31, 2003, file number 1-8319.
4.2	Indenture dated as of February 6, 2008, between GATX Corporation and U.S. Bank National Association, as Trustee, is incorporated herein by reference to Exhibit 4.12 to GATX’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007, file number 1-2328.
4.3	Description of the Registrant's Securities is incorporated herein by reference to Exhibit 4.3 to GATX's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, file number 1-2328.
10.1	Five Year Credit Agreement dated as of May 23, 2019, among GATX Corporation, as Borrowers, Citibank, N.A. and BOFA Securities, Inc., as joint lead arrangers and joint book managers, Bank of America, N.A., as syndication agent, PNC Bank, N.A., U.S. Bank, National Association, Morgan Stanley MUFG Loan Partners, LLC and Keybank National Association, as co-documentation agents, Citibank, N.A., as administrative agent, and the lenders party thereto is incorporated herein by reference to Exhibit 10.1 to GATX’s Form 8-K dated May 23, 2019, file number 1-2328.
	i.	Amendment No. 1 to the Five Year Credit Agreement dated as of November 24, 2020, among GATX Corporation, as borrower, Citibank, N.A., as administrative agent, and the lenders party thereto is incorporated by reference to Exhibit 10.1 to GATX's Form 8-K dated November 30, 2020, file number 1-2328.
10.2	Delayed Draw Term Loan Agreement dated as of December 14, 2020 among GATX Corporation, as borrower, the Initial Lenders therein, as initial lenders, Bank of America, N.A., as administrative agent, and BOFA Securities, Inc., as sole lead arranger and sole book manager, is incorporated by reference to Exhibit 10.1 to GATX’s Form 8-K dated December 18, 2020, file number 1-2328.
10.3	Supply Agreement by and between GATX Corporation, as Buyer, and Trinity Rail Group, LLC, as Seller, dated November 3, 2014 is incorporated by reference to Exhibit 10.1 to GATX’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2020, file number 1-2328 (Note: Portions of this document have been omitted pursuant to Item 601(b)(2)(ii) of Regulation S-K).
	i.	First Amendment to Supply Agreement by and between GATX Corporation, as Buyer, and Trinity Rail Group, LLC, as Seller, dated May 24, 2018 is incorporated by reference to Exhibit 10.1 to GATX’s Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2018 (Note: Portions of this document have been omitted pursuant to a Request for Confidential Treatment filed with the Securities and Exchange Commission on July 27, 2018).
10.4	Summary of GATX Corporation Non-Employee Directors’ Compensation is incorporated herein by reference to the section entitled “Director Compensation” in GATX’s Definitive Proxy Statement filed on March 19, 2018, in connection with GATX’s 2018 Annual Meeting of Shareholders, file number 1-2328.*
10.5	GATX Corporation 2004 Equity Incentive Compensation Plan is incorporated herein by reference to Exhibit C to the Definitive Proxy Statement filed on March 18, 2004 in connection with GATX’s 2004 Annual Meeting of Shareholders, file number 1-2328.*
	i.	Amendment of said Plan, effective as of December 7, 2007, is incorporated herein by reference to Exhibit 10.28 to GATX’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007, file number 1-2328.*
	ii.	Second Amendment of GATX Corporation 2004 Equity Incentive Compensation Plan effective October 22, 2010, is incorporated by reference to Exhibit 10.7(ii) to GATX's Annual Report on Form 10-K for the fiscal year ended December 31, 2010, file number 1-2328.*
10.6	Form of GATX Corporation Stock-Settled Stock Appreciation Right (SAR) Agreement for grants under the 2004 Equity Incentive Compensation Plan to executive officers on or after January 1, 2009, incorporated herein by reference to Exhibit 10.2 to GATX’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2009, file number 1-2328.*
10.7	GATX Corporation 2012 Incentive Award Plan is incorporated herein by reference to Exhibit A to the Definitive Proxy Statement filed on March 16, 2012 in connection with GATX's 2012 Annual Meeting of Shareholders, file number 1-2328.*
	i.	Amendment and Restatement of said Plan, effective May 5, 2017, is incorporated herein by reference to Exhibit C to the Definitive Proxy Statement filed on March 24, 2017 in connection with GATX's 2017 Annual Meeting of Shareholders, file number 1-2328.*
10.8	GATX Corporation Cash Incentive Compensation Plan is incorporated herein by reference to Exhibit D to the Definitive Proxy Statement filed on March 18, 2004 in connection with GATX’s 2004 Annual Meeting of Shareholders, file number 1-2328.*
	i.	Amendment of said Plan, effective as of December 7, 2007, is incorporated herein by reference to Exhibit 10.30 to GATX’s Annual Report on Form 10-K for the fiscal year ended December 31, 2007, file number 1-2328.*
10.9	Form of Amended and Restated Agreement for Employment Following a Change of Control dated as of January 1, 2009, between GATX Corporation and Brian A. Kenney is incorporated herein by reference to Exhibit 10.27 to GATX’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008, file number 1-2328.*
10.10	Form of Amended and Restated Agreement for Employment Following a Change of Control dated as of January 1, 2009, between GATX Corporation and Robert C. Lyons and Deborah A. Golden is incorporated herein by reference to Exhibit 10.28 to GATX’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008, file number 1-2328.*

10.11	Form of Agreement for Employment Following a Change of Control between GATX Corporation and James M. Conniff (dated as of February 1, 2015) and Thomas A. Ellman (dated as of January 1, 2014) is incorporated herein by reference to Exhibit 10.1 to GATX's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2015, file number 1-2328.*
10.12	Form of Agreement for Employment following a Change of Control between GATX Corporation and Niyi Adedoyin (dated as of January 29, 2016), Jennifer McManus (dated as of October 30, 2020), Paul F. Titterton (dated as of January 1, 2014), Jennifer Van Aken (dated as of October 30, 2020), Jeffery R. Young (dated as of February 1, 2015), and Robert A. Zmudka (dated as of August 9, 2018) is incorporated by reference to Exhibit 10.2 to GATX’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2015, file number 1-2328.*
10.13	Form of Agreement for Employment Following a Change of Control between GATX Corporation and N. Gokce Tezel (dated as of March 1, 2018) is incorporated herein by reference to Exhibit 10.1 to GATX's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2015, file number 1-2328.*
10.14	Form of GATX Corporation Indemnification Agreement for directors as of February 23, 2009, is incorporated herein by reference to Exhibit 10.1 to GATX's Form 8-K dated February 24, 2009, file number 1-2328.
10.15	Form of Stock-Settled Stock Appreciation Right (SAR) Agreement for awards under the GATX Corporation 2012 Incentive Award Plan to executive officers with Agreements for Employment Following a Change of Control is incorporated by reference to Exhibit 10.24 of GATX's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, file number 1-2328.*
10.16	Form of Performance Share Agreement for grants under the GATX Corporation 2012 Incentive Award Plan to executive officers with Agreements for Employment Following a Change of Control is incorporated by reference to Exhibit 10.25 of GATX's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, file number 1-2328.*
10.17	Form of Performance Share Agreement (with cash-election option) for grants under the GATX Corporation 2012 Incentive Award Plan to executive officers with Agreements for Employment Following a Change of Control is incorporated by reference to Exhibit 10.1 to GATX’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2014, file number 1-2328.*
10.18	Form of Performance Share Agreement (with cash-election option) for grants under the GATX Corporation Amended and Restated 2012 Incentive Award Plan to executive officers following adoption of the Tax Cuts and Jobs Act of 2017 is incorporated by reference to Exhibit 10.1 to GATX's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2018.*
10.19	Form of Option Agreement for awards under the GATX Corporation 2012 Incentive Award Plan to executive officers with Agreements for Employment Following a Change of Control, is incorporated by reference to Exhibit 10.1 to GATX's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, file number 1-2328.*
10.20	Form of Restricted Stock Unit Agreement for grants under the Amended and Restated 2012 Incentive Award Plan to Robert C. Lyons and Thomas A. Ellman is incorporated by reference to Exhibit 10.1 to GATX’s Form 8-K dated August 10, 2018, file number 1-2328.*
10.21	Form of Confidential Information, Non-Competition, and Non-Solicitation Agreement between the Corporation and Robert C. Lyons and Thomas A. Ellman is incorporated by reference to Exhibit 10.2 to GATX’s Form 8-K dated August 10, 2018, file number 1-2328.*
10.22	Amended and Restated GATX Corporation Directors' Voluntary Deferred Fee Plan, effective as of December 2, 2016, is incorporated by reference to Exhibit 10.1 to GATX's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, file number 1-2328.*
10.23	Amended and Restated GATX Corporation Director's Phantom Stock Plan, effective as of December 2, 2016, is incorporated by reference to Exhibit 10.2 to GATX's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, file number 1-2328.*
10.24	Stock Purchase Agreement dated as of February 7, 2020, between GATX Corporation and Rand Logistics, Inc. is incorporated by reference to Exhibit 2.1 of GATX's Form 8-K dated February 10, 2020, file number 1-2328.
10.25	Undertakings to the GATX Corporation Salaried Employees’ Retirement Savings Plan is incorporated herein by reference to GATX’s Annual Report on Form 10-K for the fiscal year ended December 31, 1982, file number 1-2328.* (Paper copy).

_______

(*) Compensatory Plans or Arrangements.

(**) Included with the Company's Annual Report on Form 10-K filed on February 18, 2021.

Certain instruments evidencing long-term indebtedness of GATX Corporation are not being filed as exhibits to this Report because the total amount of securities authorized under any such instrument does not exceed 10% of GATX Corporation’s total assets. GATX Corporation will furnish copies of any such instruments upon request of the Securities and Exchange Commission.

SIGNATURE

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

GATX CORPORATION
	Registrant
	/s/ BRIAN A. KENNEY
	Brian A. Kenney
	Chairman, President and Chief Executive Officer
	March 30, 2021

EX-23.1

EX-31.1

Exhibit 31.1

Certification of Principal Executive Officer

I, Brian A. Kenney, certify that:

1. I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of GATX Corporation (the "Company"); and

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

/s/    BRIAN A. KENNEY        

Brian A. Kenney

Chairman, President and Chief Executive Officer

March 30, 2021

EX-31.2

Exhibit 31.2

Certification of Principal Financial Officer

I, Thomas A. Ellman, certify that:

1. I have reviewed this Amendment No. 1 to the Annual Report on Form 10-K of GATX Corporation (the "Company"); and

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.

/s/    THOMAS A. ELLMAN

Thomas A. Ellman

Executive Vice President and Chief Financial Officer

March 30, 2021

EX-32

Exhibit 32

GATX CORPORATION AND SUBSIDIARIES

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with this Amendment No. 1 to the Annual Report of GATX Corporation (the “Company”) on Form 10-K for the period ended December 31, 2020, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned officers of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/    BRIAN A. KENNEY	/s/    THOMAS A. ELLMAN
Brian A. Kenney	Thomas A. Ellman
Chairman, President and Chief Executive Officer	Executive Vice President and Chief Financial Officer

March 30, 2021

This certification accompanies the Report pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed filed by GATX Corporation for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

A signed original of this written statement required by Section 906 has been provided to GATX Corporation and will be retained by GATX Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

EX-99.1

Alpha Partners Leasing Limited Consolidated Financial Statements for the Year Ended 31 December 2020

Alpha Partners Leasing Limited Contents t of the Consolidated Financial Statements ................................... 1 Report of Independent Auditors ................................................................................................................................ 2 Consolidated Income Statement for the Year Ended 31 December 2020 ................................................................... 4 Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2020...................................... 5 Consolidated Balance Sheet as at 31 December 2020................................................................................................ 6 Consolidated Statement of Changes in Equity ........................................................................................................... 7 Consolidated Statement of Cash Flows for the Year Ended 31 December 2020 ........................................................ 8 Notes to the Financial Statements for the Year Ended 31 December 2020 ................................................................. 9 1. General information and business overview ................................................................................................. 9 2. Accounting policies ................................................................................................................................... 10 3. Recent accounting standards adopted during the year ended 31 December 2020 ........................................ 16 4. Future application of accounting standards................................................................................................. 16 5. Critical accounting estimates and judgements ............................................................................................ 17 6. Revenue ..................................................................................................................................................... 17 7. Other operating income .............................................................................................................................. 18 8. Operating profit ......................................................................................................................................... 18 9. Asset impairments ..................................................................................................................................... 18 10. Staff number and costs........................................................................................................................... 19 11. Directors' remuneration ......................................................................................................................... 19 12. Audi .......................................................................................................................... 19 13. Interest payable and similar expenses .................................................................................................... 20 14. Taxation ................................................................................................................................................ 20 15. Dividends .............................................................................................................................................. 22 16. Inventories ............................................................................................................................................. 22 17. Property plant and equipment ................................................................................................................ 22 18. Intangible assets .................................................................................................................................... 24 19. Investments in associate, net .................................................................................................................. 24 20. Other financial assets............................................................................................................................. 25 21. Financial instruments ............................................................................................................................. 25 22. Receivables, net ..................................................................................................................................... 26 23. Leases ................................................................................................................................................... 27 24. Current liabilities ................................................................................................................................... 29 25. Non-current liabilities ............................................................................................................................ 29 26. Borrowings ............................................................................................................................................ 30 27. Security ................................................................................................................................................. 32 28. Covenants .............................................................................................................................................. 32

29. Analysis of changes in net debt .............................................................................................................. 32 30. Provisions for liabilities ......................................................................................................................... 33 31. Pension and other schemes .................................................................................................................... 33 32. Share capital .......................................................................................................................................... 34 33. Capital reserve ....................................................................................................................................... 34 34. Commitments ........................................................................................................................................ 34 35. Financial guarantee contracts ................................................................................................................. 34 36. Related party transactions ...................................................................................................................... 35 37. Subsidiaries ........................................................................................................................................... 36 38. Post balance sheet events ....................................................................................................................... 38 39. Parent and ultimate parent undertaking .................................................................................................. 38 40. US GAAP information .......................................................................................................................... 38

Page 1 Alpha Partners Leasing Limited Consolidated Financial Statements The Directors present the consolidated financial statements for the years ended 31 December 2020, 31 December 2019 and 31 December 2018. The Directors are responsible for the preparation of the consolidated financial statements in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' as issued in August 2014 (United Kingdom Accounting Standards and applicable law). The consolidated financial statements have been prepared by the Directors with the purpose of providing financial information to GATX Corporation to assist it satisfy its reporting responsibilities under Regulation S-X, Rule 3-09. The Directors are satisfied that these consolidated financial statements present fairly the state of affairs of the Company and its subsidiary undertakings and of the profit and cash flows of the Company and its subsidiary undertakings for the years ended 31 December 2020, 31 December 2019 and 31 December 2018. In preparing the consolidated financial statements the Directors have: selected an appropriate basis of preparation given the intended purpose of the consolidated financial statements, as set out in Note 2, and applied that basis of preparation to all periods presented; selected suitable accounting policies, as set out in Note 2, and then applied them consistently to all periods presented; made judgements and accounting estimates that are reasonable and prudent; and prepared the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The factors taken into consideration by the Directors in forming their conclusions in relation to going concern are set out in Note 2. These consolidated financial statements have not been prepared under section 394 of the Companies Act 2006 and are Provision of Information to Auditors As far as the Directors are aware, there and the Directors have taken all the steps that ought to have been taken as Directors in order to make themselves aware of any relevant audit information and to establish that th Authorised by the Board on 29 March 2021 and signed on its behalf by: /s/ Marcus Dix Marcus Dix Director, Alpha Partners Leasing Limited

Page 2 Alpha Partners Leasing Limited Report of Independent Auditors To the Directors Alpha Partners Leasing Limited We have audited the accompanying consolidated financial statements of Alpha Partners Leasing Limited and its subsidiaries, which comprise the consolidated balance sheet as of December 31, 2019 , and the related consolidated income statement, consolidated statement of comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended. Management's Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards, comprising tation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Our responsibility is to express an opinion on the consolidated financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Company's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Alpha Partners Leasing Limited and its subsidiaries as of December 31, 2019, and the results of their operations and their cash flows for the year then ended in accordance with accounting principles generally accepted in the United Kingdom.

Page 3 Emphasis of matter Basis of Preparation In forming our opinion on the consolidated financial statements, which is not modified, we draw attention to the basis of preparation set out in Note 2. Accounting principles generally accepted in the United Kingdom vary in certain significant respects from accounting principles generally accepted in the United States of America. Information relating to the nature and effect of such differences is presented in Note 2 and Note 40 to the consolidated financial statements. In addition, these consolidated financial statements are not the statutory financial statements of the Alpha Partners Leasing Limited and its subsidiaries prepared in accordance with section 394 of the Companies Act 2006. Accordingly, these consolidated financial statements do not present information on the Company as a separate legal entity. Other Matter The accompanying consolidated balance sheet as of December 31, 2019, and the related consolidated income statement, consolidated statement of comprehensive income, consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended are presented for purposes of complying with Rule 3-09 of SEC Regulation S-X; however, Rule 3-09 does not require the 2018 and 2020 financial statements to be audited and they are therefore not covered by this report. /s/ PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP London, United Kingdom March 30, 2020, except for the effects of the revision discussed in Note 26 to the consolidated financial statements, as to which the date is March 30, 2021

Page 4 Alpha Partners Leasing Limited Consolidated Income Statement for the Year Ended 31 December 2020 The above results were derived from continuing operations. 2020 2019 2018 $000 $000 $000 Note Unaudited Audited Unaudited Revenue 6 419,288 410,651 339,329 Cost of sales (256,195) (209,480) (168,044) Gross Profit 163,093 201,171 171,285 Administrative expenses (8,288) (9,214) (7,577) Other operating income 7 25,052 41,064 4,666 Net profit on sale of property, plant & equipment 26,633 38,861 7,376 Operating Profit 206,490 271,882 175,750 Interest income 521 4,486 820 Interest expense 13 (106,129) (113,810) (77,071) Share of loss of equity accounted investees (250) - - Profit before taxation 100,632 162,558 99,499 Taxation 14 (46,275) (28,053) (18,399) Net Income 54,357 134,505 81,100 Years Ended December 31,

Page 5 Alpha Partners Leasing Limited Consolidated Statement of Comprehensive Income for the Year Ended 31 December 2020 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Net Income 54,357 134,505 81,100 Cash flow hedging reserve movements (1,317) (3,407) 929 Impact of tax 246 (37) - Total comprehensive income 53,286 131,061 82,029 Years Ended December 31,

Page 6 Alpha Partners Leasing Limited Consolidated Balance Sheet as at 31 December 2020 2020 2019 $000 $000 Note Unaudited Audited Assets Cash and cash equivalents 87,696 33,186 Receivables, net 22 75,791 84,618 Receivables from related parties 36 30,924 12,013 Inventories, net 16 28,553 23,709 Total current assets 222,964 153,526 Property, plant and equipment, net 17 4,091,399 4,100,735 Intangible assets, net 18 2,733 - Investments in associate, net 19 - 250 Other financial assets 20 270,938 283,484 Total non-current assets 4,365,070 4,384,469 Total Assets 4,588,034 4,537,995 Liabilities and Equity Loans and borrowings 26 170,258 208,553 Borrowings from related parties 26 1,631 1,639 Accounts payable and current liabilities 24 36,283 39,245 Payables to related parties 36 6,944 3,762 Accruals and deferred income 24 51,554 48,744 Current portion of deposits from customers 24 6,073 2,812 Total current liabilties 272,743 304,755 Loans and borrowings, net of current portion 26 3,079,026 3,118,454 Borrowings from related parties, net of current portion 36 5,343 6,931 Other payables and non current liabilities 25 125,313 107,327 Deposits from customers, net of current portion 25 19,503 15,234 Derivates used for hedging 1,493 - Provisions 30 252,130 206,097 Total non-current liabilities 3,482,808 3,454,043 Total liabilities 3,755,551 3,758,798 Equity Share capital 32 1 1 Share premium 229,899 229,899 Capital reserve 33 42,708 42,708 Cashflow hedging reserve (879) 192 Retained earnings 560,754 506,397 Total equity 832,483 779,197 Total liabilities and equity 4,588,034 4,537,995

P ag e 7 A lp h a P a rt n er s L ea si n g L im it ed C o n so li d a te d S ta te m en t o f C h a n g es i n E q u it y E q u it y a tt ri b u ta b le t o t h e sh a re h o ld er s

Page 8 Alpha Partners Leasing Limited Consolidated Statement of Cash Flows for the Year Ended 31 December 2020 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Cash flows from operating activities Net income 54,357 134,505 81,100 Adjustments to cash flows from non-cash items Depreciation and impairment 210,953 185,521 146,649 Profit on disposal of property, plant & equipment (26,633) (38,861) (7,376) Interest income (521) (4,486) (820) Interest expense 106,129 113,810 77,071 Share of results of associates & JVs 250 - - Income tax expense 46,275 28,090 18,399 390,810 418,579 315,023 Working capital adjustments (Increase)/decrease in inventories (3,044) 13,026 832 (Increase)/decrease in receivables,net and receivables from related parties 10,020 (13,253) (8,523) Increase in accounts payable, accrued liabilities, payables to related parties and deposits from customers 76,536 43,620 43,224 Cash generated from operations 474,322 461,972 350,556 Income taxes paid - - (1) Net cash inflow from operating activities 474,322 461,972 350,555 Cash flows from investing activities Interest received 521 4,486 820 Acquisitions of property, plant & equipment (313,420) (800,228) (930,262) Proceeds from sale of property, plant & equipment 134,124 53,233 48,457 Acquisition of intangible fixed assets (1,501) - - Investment in new finance lease assets (45,037) (82,406) (44,236) Acquisition of investment in associates - (250) - Net cash outflow from investing activities (225,313) (825,165) (925,221) Cash flows from financing activities Interest paid (109,927) (101,500) (60,261) Proceeds from issue of ordinary shares, net of issue costs - 6,580 21,620 Repayment of bank, other and related party borrowings (585,713) (846,060) (894,800) Proceeds from bank and other borrowing draw downs (net of issue costs) 501,141 1,242,460 1,670,770 Dividends paid - (36,500) (62,700) Net cash inflow from financing activities (194,499) 264,980 674,629 Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at 1 January 33,186 131,399 31,436 Cash and cash equivalents at 31 December 87,696 33,186 131,399 54,510 (98,213) 99,963

Page 9 Alpha Partners Leasing Limited Notes to the Financial Statements for the Year Ended 31 December 2020 1. General information and business overview limited by shares incorporated in England and Wales under the Companies Act. The address of its registered office is: Brewer's Green London SW1H 0RH England Principal activity The principal activity of the Company Group is leasing of commercial aero engines to customers, primarily airlines and Original Equipment Manufacturers (OEMs). The split of revenues by region is provided in note 6. Fair review of the business The Group opened the year with an engine operating lease portfolio of 303 engines (2019: 274 engines), and closed with 306 engines (2019: 303 engines). During the year the Group acquired 18 engines (2019: 42 engines) and disposed 14 engines and transferred 1 engine to finance lease (2019: disposed 10 engines and transferred 3 engines to finance lease). The Group also had an engine finance lease portfolio of 29 engines (2019: 28 engines). Both the level of business and the year-end financial position were satisfactory. The Group's key financial and other performance indicators during the year were as follows: Use of estimates The preparation of financial statements in conformity with FRS102 requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Unit 2020 2019 2018 Number of engines in operating lease portfolio 306 303 274 Number of engines in finance lease portfolio 29 28 21 Net Book Value of assets held for use in operating leases at year end $000 4,090,533 4,099,841 3,530,914 Revenue $000 419,288 410,651 339,329 Profit on disposal of fixed assets $000 26,633 38,861 7,376 Profit before taxation $000 100,632 162,558 99,499

Page 10 2. Accounting policies Basis of preparation These consolidated financial statements have been prepared by the Directors with the purpose of providing financial information to GATX Corporation to assist it satisfy its reporting responsibilities under Regulation S-X, Rule 3-09. These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' . The presentation currency of these financial statements is U.S Dollars ($). All amounts in the financial statements have been rounded to the nearest $1,000. These consolidated financial statements have not been prepared under section 394 of the Companies Act 2006 and are not the The preparation of financial statements in conformity to FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Company's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in note 5. These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. These financial statements have been adapted from those previously presented for the purposes of UK statutory reporting, which are summarised in Note 40. The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Basis of consolidation The consolidated financial statements consolidate the financial statements of the Company and its subsidiary undertakings drawn up to 31 December 2020. A subsidiary is an entity controlled by the Company. Control is achieved where the Company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The results of subsidiaries acquired or disposed of during the year are included in the income statement from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the Group. Inter-company transactions, balances and unrealised gains on transactions between the Company and its subsidiaries, which are related parties, are eliminated in full. Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the Group. Non- therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non- .

Page 11 Going concern The Directors have considered the application of the going concern basis of accounting and believe that, for the foreseeable future, the Group will have adequate resources to meets its liabilities as they fall due. In making this assessment, the Directors have considered the cash generation arising from current and future lease income receivable against the payables and loan repayments necessary within one year. In addition, consideration has been given to the ongoing impact of the COVID- different cash flow scenarios have been modelled. The most severe cash flow scenario being the effects of 100% deferral of lease payments for 12 months, i.e. no cash collection in the 12 months from the date of approving the financial statements with a gradual return to pre-COVID cash collection l costs and restrict capital expenditure which is discretionary. Based on this assessment, the Directors are satisfied that the impact of COVID-19 can be managed within the Group severe scenarios the Group continues to benefit from significant headroom. The Directors have reasonable expectations that the Group is well placed to manage business risks and to continue in operational existence for the foreseeable future (which accounting standards require to be at least a year from the date of these Financial Statements) and have not identified any material to do so. Foreign currency transactions and balances Transactions in foreign currencies are recorded using the rate of exchange ruling at the date at which they occurred. Monetary assets and liabilities denominated in foreign currencies are translated into US dollars at the rate ruling at the year-end. Exchange differences, including those arising from currency conversions in the usual course of trading, are taken into account in determining profit on ordinary activities before taxation. Financial instruments Classification The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in respect of financial instruments. In accordance with FRS 102.22, financial instruments issued by the Group are treated as equity only to the extent that they meet the following two conditions: (a) they include no contractual obligations upon the Group to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Group; and (b) where the instrument will or may be settled in -derivative that includes t will be settled by the entity exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments. To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares. Basic financial instruments Cash and cash equivalents Cash and cash equivalents comprise of cash balances, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Receivables Receivables are amounts due from customers in relation to engines provided on lease or for aircraft engines or aircraft engine parts sold. Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of receivables is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of the debts.

Page 12 Accounts payable Accounts payable are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities the Group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Accounts payable are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Bank and other borrowings are initially recorded at fair value, net of transaction costs. Bank and other borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar expense. Borrowings are classified as payables due within one year unless the Group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Other financial instruments Derivatives Derivative financial instruments are recognised at fair value. The gain or loss on remeasurement to fair value is recognised immediately in the income statement. However, where derivatives qualify for hedge accounting, recognition of any resultant gain or loss depends on the nature of the item being hedged (see below). Hedging Fair value hedges Where a derivative financial instrument is designated as a hedge of the variability in fair value of a recognised asset or liability or an unrecognised firm commitment, all changes in the fair value of the derivative are recognised immediately in the income statement. The carrying value of the hedged item is adjusted by the change in fair value that is attributable to the risk being hedged (even if it is normally carried at cost or amortised cost) and any gains or losses on remeasurement are recognised immediately in the income statement (even if those gains would normally be recognised directly in reserves). If hedge accounting is discontinued and the hedged financial asset or liability has not been derecognised, any adjustments to the carrying amount of the hedged item are amortised into the income statement using the effective interest method over the remaining life of the hedged item. Cash flow hedges Where a derivative financial instrument is designated as a hedge of the variability in cash flows of a recognised asset or liability, or a highly probable forecast transaction, the effective part of any gain or loss on the derivative financial instrument is recognised directly in other comprehensive income. Any ineffective portion of the hedge is recognised immediately in the income statement. For cash flow hedges, where the forecast transactions resulted in the recognition of a non-financial asset or non-financial liability, the hedging gain or loss recognised in OCI is included in the initial cost or other carrying amount of the asset or liability. Alternatively, when the hedged item is recognised in the income statement the hedging gain or loss is reclassified to the income statement. When a hedging instrument expires or is sold, terminated or exercised, or the entity discontinues designation of the hedge relationship but the hedged forecast transaction is still expected to occur, the cumulative gain or loss at that point remains in equity and is recognised in accordance with the above policy when the transaction occurs. If the hedged transaction is no longer expected to take place, the cumulative unrealised gain or loss recognised in equity is recognised in the income statement immediately. Investments Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Page 13 Investments in associates, which are unconsolidated and which the Group has significant influence over, are accounted for using the equity method, and initially recognised ents accounted for using the equity method in the balance sheet and its interest in their results is included in the income statement, above operating profit or loss. Intangible assets Intangible assets are recognised at acquisition cost and amortised on a straight-line basis. The cost of internally developed software includes direct labour and an appropriate proportion of overheads. Amortisation Intangible assets are amortised on a straight line basis from the time they were first brought into use so as to write off the cost, less any estimated residual value, over the lessor of: i) a period of 10 years; and ii) the anticipated useful life of the asset. Property, plant and equipment Property, plant and equipment is stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of property, plant and equipment includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation Assets held for use in operating leases Assets held for operating leases are depreciated on a straight line basis from the time that they are first brought into use so as to write off their cost, less estimated residual value, over the lesser of: i) the period up to ii) the anticipated remaining useful economic life of the engine type or the airframe for which the engine is designed. However, if a used engine is acquired with a lease attached that goes beyond the then the useful economic life is re-evaluated and is used as the basis to amortise the cost to an estimated residual value. This is Furniture, fittings and equipment Furniture, fittings and equipment are depreciated on a straight line basis from the time that they are first brought into use so as to write off their cost, less estimated residual value, over the lesser of: i) a period of 15 years ii) the anticipated useful life of the asset. Finance lease receivables The Group leases engines to customers. At the start of each lease, the Group reviews all necessary terms and criteria to determine the appropriate lease classification. If a lease meets specific classification criteria, the lease will be recognised as net investment in finance lease on the Consolidated Balance Sheet while the engine will be derecognised from assets held for operating leases. The amounts recognized for finance leases consist of lease receivables and the estimated unguaranteed residual value of the engine on the lease termination date, less the unearned income. Expected unguaranteed residual values are based on assessment of the values of the engine and, if applicable, the estimated end of lease payments expected at the expiration of the lease.

Page 14 Inventories Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. The method by which amounts are removed from inventory is by the average estimated cost per unit. The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, inventories are assessed for impairment. If inventories are impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the income statement. Impairment Financial assets (including receivables) A financial asset not carried at fair value through profit or loss is assessed at each reporting date to determine whether there is objective evidence that it is impaired. A financial asset is impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset, and that the loss event had a negative effect on the estimated future cash flows of that asset that can be estimated reliably. An impairment loss in respect of a financial asset measured at amortised cost is calculated as the difference between its carrying amount and the present value of the es ffective interest rate. Interest on the impaired asset continues to be recognised through the unwinding of the discount. Impairment losses are recognised in the income statement. When a subsequent event causes the amount of impairment loss to decrease, the decrease in impairment loss is reversed through the income statement. Non-financial assets -financial assets, other than inventories and deferred tax assets, reviewed at each reporting date to determine recoverable amount is estimated. The recoverable amount of an asset or cash-generating unit is the greater of its value in use and its fair value less costs to sell. The Group considers the valuation appraisals carried out by industry experts for the fair value of its engine portfolio and other material assets. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. For the purpose of impairment testing, assets that cannot be tested individually are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of - ine to be an individual CGU. There were no assets grouped as CGUs during the year. An impairment loss is recognised if the carrying amount of an asset or its CGU exceeds its estimated recoverable amount. Impairment losses are recognised in the income statement. Impairment losses recognised in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the units, and then to reduce the carrying amounts of the other assets in the unit (group of units) on a pro rata basis. Maintenance reserves Maintenance reserves represent amounts receivable from certain customers. The purpose of the monies received is to cover essential maintenance obligations of the lessee and the risk of an engine not being returned in redelivery conditions. Maintenance reserves are initially recognised as a payable to the customer and is generally returned to the customer when qualifying shop visit have been carried out on an engine. Depending on the contractual terms with a customer, any remaining maintenance reserve at the conclusion of the lease is retained by the Group as a reflection of the engine redelivery condition. Maintenance reserves are de-recognised when they no longer meet the definition of a liability, which is typically at the end of the lease. At this point the maintenance reserves are released to the income statement to offset any related adjustment to the carrying amount of the engine, with any remaining excess reserves recognised as other income in the income statement. In the event that the engine is disposed of at the end of the lease, any remaining maintenance reserve is recognised as part of the net profit on sale of property, plant and equipment in the income statement.

Page 15 Share capital Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends Final dividends to final dividends are approved by the shareholders. Interim dividends are recognised when paid to These amounts are recognised in the statement of changes in equity. Revenue recognition Revenue comprises the fair value of the consideration due from customers in relation to engines provided on lease or for aircraft engines or aircraft engine parts sold in the ordinary cou tax, returns, rebates and discounts and after eliminating sales within the Group. Leases (as lessor) The Group leases engines to customers. At the start of each lease, the Group reviews all necessary terms and criteria to determine the appropriate lease classification. If a lease meets specific classification criteria, the lease will be treated as a finance lease. Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. For operating leases, rental income is recognised on a straight line basis over the term of the lease. The amount of the difference between rental revenue recognized and cash received is included in other assets, or in the event it is a liability, in accounts payable, accrued expenses and other liabilities. Lease agreements where rent is based on floating interest rates are included in minimum lease payments based on the floating interest rate that existed at the commencement of the lease. Increases or decreases in lease payments that result from subsequent changes in the floating interest rate are recorded as increases or decreases in lease revenue in the period of the interest rate change. Revenue will cease to be recognised on a lease contract when the collectability of rentals is no longer probable. Subsequently, revenues are recognised based on lessee cash collections until such time that collection is probable. erating lease contracts require rental payments in advance. Rental payments received but unearned are recorded as deferred income in our Consolidated Balance Sheets. Revenue from net investment in finance leases is recognized using the interest method to produce a constant yield over the life of the lease and is included in lease revenue as finance lease interest. Sales of inventory The Group recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met. Revenue from sales of inventory (spare parts sales) is recognised on despatch or, where it is the customer's responsibility to collect the item, when the item for sale is made ready for collection. Other items included in revenues (apart from sales of inventory/engines parts, covered below) consist of income related to other miscellaneous activities. Net gain on sales of engines The Group may sell engines that are on lease to customers as well as those that are not on lease. When disposing an engine, the Group will consider whether control of the engine has been transferred to the buyer, and whether the Group no longer has significant ownership risk in the engine, both of which are required for a sale and resulting gain or loss to be recognised as other operating income. Where the Group sells an engine to an associate entity, it will defer the profit or loss on disposal of that engine based on unwind the profit or loss on a straight line basis over the life of that engine or in full where the engine is subsequently sold to a third party.

Page 16 Leases (as lessee) Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease. Interest income and expense Interest expense comprise interest payable and amortisation of financing costs. Interest income comprise interest receivable from the bank. Tax The tax expense for the period comprises current and deferred tax. Tax is recognised in the income statement, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. Current Tax The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Group operates and generates taxable income. Deferred Tax Deferred tax is provided in full on timing differences that arise from differences between taxable profits and total comprehensive income, resulting in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on tax rates and law that have been enacted or substantively enacted by the reporting date. The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. 3. Recent accounting standards adopted during the year ended 31 December 2020 Interest Benchmark Reform Interest rate benchmarks such as the London Interbank Offered Rate (LIBOR) are being reformed, and it is anticipated that USD 3-month and 6-month LIBOR will phased out on 30 June 2023. There is increasing uncertainty about the long-term viability of some interest rate benchmarks and this gives rise to issues affecting financial reporting in the period before the reform, particularly in relation to hedge accounting. FRC issued 'Amendments to FRS102 - Interest rate benchmark reform', referred to as Phase 1 amendments to FRS102, in December 2019, which has a mandatory effective date of 1 January 2020. The amendments to specific hedge accounting requirements in Section 12 provide relief that will avoid unnecessary discontinuation of hedge accounting during the period of uncertainty. The Company therefore applies specific hedge accounting requirements assuming that the interest rate benchmark relevant to the hedge accounting is not altered as a result of interest rate benchmark reform. 4. Future application of accounting standards Interest Benchmark Reform FRC issued 'Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland - Interest rate benchmark reform (Phase 2) (2020)' in December 2020, which has a mandatory effective date of 1 January 2021. Amendments to Section 11 Basic Financial Instruments provide a practical expedient for the accounting for financial assets and financial liabilities when contractual cash flows change because interest rate benchmarks are being replaced. A consequential amendment has been made to Section 20 Leases resulting from the changes made to Section 11. Amendments to Section 12

Page 17 Other Financial Instruments give more flexibility regarding the redocumentation of hedging relationships and provide other reliefs that avoid disruption to hedge accounting. The Company is assessing the impact of these changes. 5. Critical accounting estimates and judgements The Company makes estimates and judgements concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and judgements that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. Useful economic lives of property, plant and equipment The annual depreciation charge for property, plant and equipment is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 17 for the carrying amount of the property, plant and equipment, and note 2 for the useful economic lives for each class of assets. Impairment of property, plant and equipment In reviewing the Group's property, plant and equipment for indications of impairment, the Group considers the valuation of its engine portfolio against its carrying amount. Valuation appraisals are carried out by industry experts but inherently include judgements and estimates and will be sensitive to similar factors as that for the useful economic lives of property, plant and equipment. Maintenance reserve Judgement is applied in assessing the allocation of current and non-current maintenance reserve balances at the year end. The allocation is based on planned disposals and expected shop visits in the 12 months following the year end. See notes 24 and 25 for the maintenance reserve balances. 6. Revenue The analysis of the Group's revenue for the year from continuing operations is as follows: 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Operating lease rentals 398,564 369,332 309,093 Finance lease interest 13,239 12,682 8,325 Spare parts sales 7,485 28,637 21,911 419,288 410,651 339,329 An analysis of revenue by destination is as follows: 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited United Kingdom 217,497 204,842 177,573 Rest of Europe 53,812 63,522 52,858 Americas 26,022 31,037 15,894 Asia, Oceania and Africa 121,957 111,250 93,004 419,288 410,651 339,329

Page 18 7. Other operating income The analysis of the Group's other operating income for the year is as follows: 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Other operating income 25,052 41,064 4,666 Other operating income relates to the release of amounts previously held as maintenance reserves for which customers no longer have rights to and for which the Group no longer has a liability. 8. Operating profit Arrived at after charging 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Depreciation expense 210,812 180,140 146,649 Amortisation expense 38 - - Operating lease expense - property 516 - - Foreign exchange (gains)/losses 440 (157) 47 9. Asset impairments Asset impairments consisted of the following for the years ended 31 December 2020, 2019 and 2018: 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Engines held for operating lease (Note 17) 103 5,381 - During the year ended 31 December 2020, the Company recognised impairments of $103,000 (2019: $5,381,000) against assets held for operating leases. In addition, an adjustment to the carrying amount of property, plant and equipment of $30,467,000 (2019: $19,866,000) has been recorded which has been offset by a release from the maintenance reserve resulting in a net nil impact in the income statement.

Page 19 10. Staff number and costs The aggregate payroll costs were as follows: 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Wages and salaries 2,622 3,593 2,870 Social security costs 368 365 273 Pension costs, defined benefit scheme 312 262 203 3,302 4,220 3,346 The average number of persons employed by the group during the year, analysed by category was as follows: 2020 2019 2018 No. No. No. Full-time equivalent employees 30 22 19 For the purposes of this note, employees are taken as being those people with contracts of employment with a related party but whose time is dedicated to the business of the Company and Group and whose costs of employment are therefore charged to the Group. 11. Directors' remuneration The Group and Company paid no emoluments to the Directors in respect of their services during the year (2019: $Nil). Directors are employed by the ultimate holding companies, GATX Corporation and Rolls-Royce Holdings plc and are remunerated by these companies. There were no recharges from these related parties to Alpha Partners Leasing Limited during the year (2019: $Nil) 12. 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Audit of the UK statutory financial statements 77 71 61 associates in respect of: Audit of financial statements of subsidiaries of the Company 335 270 227 Audit-related assurance services 245 362 - 657 703 288

Page 20 13. Interest payable and similar expenses 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Interest on bank borrowings 22,127 27,046 31,323 Interest on other loans 84,002 86,764 45,748 106,129 113,810 77,071 14. Taxation Tax charged/(credited) in the income statement 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Current taxation Foreign tax - - 1 Total current income tax - - 1 Deferred taxation Arising from origination and reversal of timing differences 21,364 27,647 17,084 Arising from adjustments in respect to reduction in tax rate 24,243 - - Arising from adjustments in respect of prior period 668 406 1,314 Total deferred taxation 46,275 28,053 18,398 Tax expense in the income statement 46,275 28,053 18,399 The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2019: lower than the standard rate of corporation tax in the UK) of 19% (2019:19%).

Page 21 The differences are reconciled below: 2020 2019 2018 $000 Unaudited $000 Audited $000 Unaudited Profit before taxation 100,632 162,558 99,499 Profit on ordinary activities before tax multiplied by the standard rate of corporation tax in the UK of 19% (2019: 19%, 2018: 19.25%) 19,120 30,886 18,905 Expenses not deductible in determining taxable profit (tax loss) 2,221 13 188 Adjustments in respect to reduction in tax rate 24,243 - - Movement in unrecognised deferred tax 23 - - Adjustments in respect of prior periods 668 406 1,314 Tax rate differential on temporary differences - (3,252) (2,008) Total tax charge 46,275 28,053 18,399 Provision for income taxes by tax jurisdiction for the years ended 31 December 2018, 2019 and 2020 were as follows: 2020 2019 2018 $000 $000 $000 Audited Unaudited Unaudited Current tax expense United Kingdom - - - Malaysia - - 1 Deferred tax expense/(benefit) United Kingdom 46,275 28,053 18,398 Total tax charge 46,275 28,053 18,399 The Spring Budget 2020 announced that the UK corporation tax rate would remain at 19% rather than reducing to 17% from 1 April 2020. The new law was substantively enacted on 17 March 2020. The prior year UK deferred tax assets and liabilities were calculated at 17%, as this was the enacted rate at the 2019 balance sheet date. As the 19% rate has been substantively enacted before 31 December 2020, the UK deferred tax assets and liabilities have been re-measured at 19%. The resulting charge has been recognised in the income statement except to the extent that they relate to items previously credited or charged to equity. Accordingly, in 2020, $24,243,000 has been charged to the income statement and $4,000 has been charged to equity. The Spring 2021 Budget further announced that the UK corporation tax rate will increase to 25% from 1 April 2023. The deferred tax liability has been calculated at 19% as this rate has been substantively enacted at the Balance Sheet date. Had the 25% been substantively enacted on or before 31 December 2020 it would have had the effect of increasing the deferred tax liability by $79,618,000.

Page 22 Tax relating to items recognised in other comprehensive income 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Deferred taxation Deferred tax on movement in cash flow hedges (246) 37 - Total deferred taxation (246) 37 - 15. Dividends 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Interim dividend of $Nil (2019 - $21,471, 2018 - $41,800) per ordinary share - 36,500 62,700 16. Inventories 2020 2019 $000 $000 Unaudited Audited Aero engine spare parts 28,553 23,709 Inventories are stated after provisions for impairment of US$5,926,000 (2019: $5,293,000). 17. Property plant and equipment Furnitures, fittings and equipment Engine pre delivery payments Assets held for use in operating leases Total $000 $000 $000 $000 Cost or valuation At 1 January 2019 - 40,281 4,240,725 4,281,006 Additions 929 - 799,073 800,002 Disposals - - (122,209) (122,209) Pre delivery payments refunded to the Group - (5,581) - (5,581) Transfers - (34,700) 34,700 - At 31 December 2019 (Audited) 929 - 4,952,289 4,953,218 Additions 38 - 323,036 323,074 Disposals - - (143,406) (143,406) At 31 December 2020 (Unaudited) 967 - 5,131,919 5,132,886

Page 23 During the year, assets with a value of $45,037,000 (2019: $82,400,000) were acquired for the purpose of letting under finance leases and shown under finance lease receivables (notes 20 and 22). During the year, the operating lease agreements of assets with cost of $14,000,000 (2019: $39,400,000) were converted into finance leases agreements. The accumulated depreciation on these engines was $7,962,000 (2019: $24,800,000). The carrying amount of these assets are shown under finance lease receivables (notes 20 and 22). Other relates to an adjustment to carrying amount of $30,467,000 (2019: $19,866,000) which has been offset by a release from the maintenance reserve resulting in a net nil impact in the income statement. Furnitures, fittings and equipment Engine pre delivery payments Assets held for use in operating leases Total $000 $000 $000 $000 Depreciation At 1 January 2019 - - 709,811 709,811 Charge for the year 35 - 180,105 180,140 Eliminated on disposal - - (62,715) (62,715) Impairment (note 9) - - 5,381 5,381 Other - - 19,866 19,866 At 31 December 2019 (Audited) 35 - 852,448 852,483 Charge for the year 66 - 210,746 210,812 Eliminated on disposal - - (52,378) (52,378) Impairment (note 9) - - 103 103 Other - - 30,467 30,467 At 31 December 2020 (Unaudited) 101 - 1,041,386 1,041,487 Carrying amount At 31 December 2019 (Audited) 894 - 4,099,841 4,100,735 At 31 December 2020 (Unaudited) 866 - 4,090,533 4,091,399

Page 24 18. Intangible assets The aggregate amount of research and development expenditure recognised as an expense during the period is $Nil (2019: $Nil). 19. Investments in associate, net Details of the investment in which the Group holds 20% or less of the nominal value of any class of share capital are as follows: Country of incorporation Holding Proportion of voting rights and shares held Carrying amount 2020 2019 2020 $000 2019 $000 Associate Unaudited Audited Hyphen Holdings Limited England Ordinary shares 10% 10% - 250 Principal activity The principal activity of Hyphen Holdings Limited is leasing of aero engines. Aggregate financial information of associates 2020 $ 000 2019 $ 000 Group's share of loss in associates (250) - Internally generated software development costs Total 2020 2020 $000 $000 Unaudited Unaudited Cost or valuation Additions internally developed 2,771 2,771 At 31 December 2020 2,771 2,771 Amortisation Amortisation charge 38 38 At 31 December 2020 38 38 Carrying amount At 31 December 2020 2,733 2,733

Page 25 During the period, Group disposed of seven engines (2019: two engines) to Hyphen Holdings Limited. Part of the profits on disposal of these engines, life of the engines or when the engines are disposed to third parties. 20. Other financial assets 2020 2019 $000 $000 Note Unaudited Audited Derivatives used for hedging 21 7,722 4,365 Finance lease receivables 257,282 270,823 Non-current receivables 5,934 8,296 270,938 283,484 21. Financial instruments Categorisation of financial instruments 2020 2019 $000 $000 Unaudited Audited Financial assets measured at fair value through profit or loss 7,722 4,365 7,722 4,365 Financial liabilities measured at fair value through profit or loss (1,493) - (1,493) - Financial assets measured at fair value Interest rate swap The financial assets relate to the fair value of interest rate swaps used as fair value hedges (2019: fair value hedges and cash flow hedges) and is estimated by discounting expected future contractual cash flows using prevailing interest rate curves. The fair value is $7,722,000 (2019: $4,365,000) and the change in value included in the income statement is $3,773,000 (2019: $3,181,000). Financial liabilities measured at fair value Interest rate swap These financial liabilities relate to fair value of interest rate swaps used as cash flow hedges and is estimated by discounting expected future contractual cash flows using prevailing interest rate curves. The fair value is ($1,493,000) (2019: $Nil) and the change in value included in profit or loss is $Nil (2019: $Nil).

Page 26 Fair value hedges Interest rate swap US$95,000,000 of fixed rate borrowing has been swapped to variable rate using interest rate swaps maturing in 2023. The swaps receive interest at a fixed rate of 3.99% and require payment of interest at a variable rate equal to 6-month USD LIBOR plus 1.1625%. The fair value of the financial instruments designated as hedging instruments at 31 December 2020 is $7,722,000 (2019: $3,949,000). The amount of the change in fair value of the hedging instrument recognised in the income statement for the period is $3,773,000 (2019: $3,181,000). The amount of the change in fair value of the hedged item recognised in the income statement for the period is $(3,773,000) (2019: $(3,181,000)). Cash flow hedges Interest rate swap An amortising profile of floating interest rate borrowings, starting at US$399,000,000, has been swapped to fixed rate using interest rate swaps maturing in 2022. These swaps are designated instruments in the cash flow hedge and receive interest at a variable rate equal to 6-month USD LIBOR and require payment of interest at a fixed rate of 1.613125%. Cash flows relating to these cash flow hedging instruments are expected to occur bi-annually. The fair value of the financial instruments designated as hedging instruments at 31 December 2020 is $(1,493,000) (2019: $416,000). The amount of the change in fair value of the hedging instrument that was recognised in other comprehensive income during the period is $1,533,000 (2019: $1,900,000). The amount reclassified from equity to the income statement for the period is $(216,000) (2019: $1,500,000). The amount of any excess of the fair value of the hedging instrument over the change in the fair value of the expected cash flows that was recognised in the income statement for the period is $Nil (2019: $Nil). 22. Receivables, net 2020 2019 $000 $000 Unaudited Audited Gross trade receivables 70,482 28,092 Receivable allowance (33,429) (2,379) Group relief receivable 1,735 1,734 Other receivables 4,455 3,521 Prepayments 7,534 30,466 Finance lease receivables 25,014 23,184 Due within one year 75,791 84,618

Page 27 Activity in allowance for receivables are as follows: 2020 2019 $000 $000 Unaudited Audited Opening balance 2,379 1,040 Allowance created/(reversed) in period 31,050 1,339 Closing balance 33,429 2,379 23. Leases Finance lease as lessor The amount of the net investment in finance leases is determined as shown in the following table: 2020 2019 $000 $000 Unaudited Audited Minimum lease payments 335,334 367,204 Unguaranteed residual value - - Gross investment 335,334 367,204 Unearned finance income (53,038) (73,197) Net investment (present value of minimum lease payments) 282,296 294,007 The gross investment amount and the present value of payable minimum lease payments are shown in the following table: Gross investment in the lease Present value of minimum lease payments Gross investment in the lease Present value of minimum lease payments 2020 2020 2019 2019 $000 $000 $000 $000 Maturity Unaudited Unaudited Audited Audited Not later than one year 36,449 25,014 37,171 23,034 Later than one year and not later than five years 168,813 137,041 160,980 118,805 Later than five years 130,072 120,241 169,053 152,168 335,334 282,296 367,204 294,007 There were also no contingent rents recognised as income in the period ((2019: $Nil, 2018: $Nil).

Page 28 Operating leases as lessor The total of future minimum lease payments is as follows: 2020 2019 $000 $000 Maturity Unaudited Audited Not later than one year 364,861 362,331 Later than one year and not later than five years 1,224,136 1,230,769 Later than five years 755,369 827,665 2,344,366 2,420,765 Total contingent rents recognised as income in the period (2019: Nil). Operating leases as lessees The Group leases office space under operating lease arrangements. 2020 2019 $000 $000 Maturity Unaudited Audited Not later than one year 567 152 Later than one year and not later than five years 2,271 2,196 Later than five years 4,668 5,064 7,506 7,412 The amount of non-cancellable operating lease payments recognised as an expense during the year was $135,000 (2019: $Nil).

Page 29 24. Current liabilities 2020 2019 $000 $000 $000 $000 Note Unaudited Unaudited Audited Audited Loans and borrowings 26 170,258 208,553 Borrowings from related parties 26 1,631 1,639 Account payables 4,738 4,688 Maintenance reserves 31,488 32,883 Other payables 57 1,674 Account payables and other current liabilities 36,283 39,245 Amounts owed to related parties 6,944 3,762 Accruals and deferred income 51,554 48,744 Current portion of deposits from customers 6,073 2,812 272,743 304,755 25. Non-current liabilities Note 2020 2020 2019 2019 $000 $000 $000 $000 Unaudited Unaudited Audited Audited Loans and borrowings, net of current portion 26 3,079,026 3,118,454 Borrowings from related parties 26 5,343 6,931 Maintenance reserves 125,313 102,452 Other payables - 4,875 Other payables and non current liabilities 125,313 107,327 Deposit from customers, net of current portion 19,503 15,234 Derivates used for hedging 1,493 - Provisions 252,130 206,097 3,482,808 3,454,043

Page 30 Maintenance reserves included in current and non-current liabilities above comprise: 2020 2019 $000 $000 Unaudited Audited At the beginning of the year 135,335 118,684 Received during the year 76,986 98,883 Released during the year into other operating income and net profits on sale of property, plant & equipment (25,052) (59,355) Paid out during the year - (3,011) Released to income to offset adjustments to PPE (see note 17) (30,467) (19,866) At the end of the year 156,801 135,335 26. Borrowings 2020 2019 $000 $000 Unaudited Audited Bank borrowings 123,945 12,474 Other borrowings 46,313 196,079 170,258 208,553 Borrowings from related parties 1,631 1,639 Total loans and borrowings due within one year 171,889 210,192 Loans and borrowings due after more than one year Bank borrowings 724,140 739,074 Other borrowings 2,354,886 2,379,380 3,079,026 3,118,454 Borrowings from related parties 5,343 6,931 Total loans and borrowings after more than one year 3,084,369 3,125,385 Total loans and borrowings 3,256,258 3,335,577 Loans and borrowings due within one year

Page 31 The 31 December 2019 balance sheet has been revised for an incorrect classification between current loans and borrowings and non-current loans and borrowings. This resulted in an understatement of current loans and borrowings of $11,917,000 and an overstatement of non-current loans and borrowings of the same amount. The revision is not considered material to the previously issued financial statements. Future minimum principal payments on the facilities as at 31 December 2020 were as follows: Bank borrowings The above bank borrowings relate to a revolving credit facility and bank loans. Revolving credit facility Under the facility agreement the Group and its affiliates can make eligible drawings up to US$450,000,000. Borrowings are secured by the assets of the Group and its affiliates. Interest rate is payable at LIBOR + 0.50%. The original termination date of the facility was 7 April 2019, however the Group and its affiliates had the option to extend to 7 April 2021. On 11 May, 2018, an Amendment Deed was agreed between the lenders, the Group and its affiliates allowing the termination date to be extended to 11 May 2023, with two 1 year extension options. In March 2020, the Group and its affiliates exercised the final option to extend the termination date to 11 May 2025. As at 31 December 2020, the Group utilised US$233,000,000 of this facility. The facility includes an accordion option which makes additional funds available upon request. The total amount of funds available per the terms of the accordion option is US$150,000,000. As of 31 December 2020 the Group had not exercised this option. December 31 Adjustments December 2019 Balance as 31 2019 As previously revised reported Loans and borrowings - Current 196,636 11,917 208,553 Loans and borrowings - Non Current 3,130,371 (11,917) 3,118,454 Total 3,327,007 - 3,327,007 Years Bank borrowings Other borrowings Borrowings from related parties Total loans and borrowings $000 $000 $000 $000 2021 124,050 43,600 1,600 169,250 2022 113,500 143,600 5,350 262,450 2023 - 343,600 - 343,600 2024 - 43,600 - 43,600 2025 233,000 193,600 - 426,600 Thereafter 379,700 1,630,557 - 2,010,257 850,250 2,398,557 6,950 3,255,757 Net loan fees and interest rate swap 501 3,256,258

Page 32 Bank loans The carrying amount of the Group's bank loans and facilities as at 31 December 2020 comprised of: - US$380,000,000 of fixed interest loans maturing between April 2026 and October 2026 - US$238,000,000 of variable interest loan notes (3-month USD LIBOR + margins between 0.70% and 0.75%), payable by instalments and maturing between October 2021 and October 2022. Other borrowings Other borrowings relate to private placements and related party loans. Loan notes issued by subsidiary companies totalled US$2,750,000,000 of which US$366,000,000 was repaid as at 31 December 2020. The carrying amounts of the loan notes comprised of: - US$1,056,000,000 of fixed interest loan notes with maturity dates between April 2022 and June 2033 - US$287,000,000 of fixed interest loan notes payable by instalments with maturity dates between October 2026 and July 2028 - US$1,041,000,000 of variable interest loan notes (6-month USD LIBOR + margins between 0.82% and 1.72%) with maturity dates between October 2023 and June 2033. The above other borrowings are net of private placement loan fees of $8,536,000 (2019: $10,028,000) and interest rate swap fees of $140,000 (2019: $140,000). Loans from related parties relate to a loan with a total principal amount outstanding of $6,950,000 as at 31 December 2020. The borrowings were obtained in order to purchase the fixed assets of the Group. The loans are secured against the Company's share in its subsidiary undertaking and against those fixed assets purchased. 27. Security The borrowings were obtained in order to purchase property, plant and equipment of the Group. All borrowings are secured by a pledge of the shares of subsidiaries owning the relevant property, plant and equipment and mortgages against the relevant property, plant and equipment held for operating leases with carrying amount as at 31 December 2020 $4,090,533,000 (2019: $4,099,841,000) and the underlying assets in the net investments in finance lease receivables with carrying amount as at 31 December 2020 $282,296,000 (2019: $294,007,000). 28. Covenants All borrowings contain affirmative covenants customary for secured borrowings of this type. The Group has fulfilled all its covenant reporting and was not in breach of any of its borrowings covenants during the year ended 31 December 2020, 2019 and 2018. 29. Analysis of changes in net debt As at 1 January 2020 Cash flows Fair value movements Non-cash changes As at 31 December 2020 $000 $000 $000 $000 $000 Audited Audited Audited Audited Audited Cash 33,186 54,510 - - 87,696 Bank and other borrowings (3,331,898) 106,816 - (24,374) (3,249,456) Interest rate swap (3,679) - (3,124) - (6,803) Net debt (3,302,391) 161,326 (3,124) (24,374) (3,168,563)

Page 33 30. Provisions for liabilities Provisions for liabilities comprise only of net deferred tax liabilities as at 31 December 2020 and 2019, which are set out in the tab below. No net reversal of the deferred tax liability is expected to occur in the next reporting period. 31. Pension and other schemes -employer defined benefits pension schemes. The Rolls-Royce Pension Fund or the Rolls-Royce Group Pension Scheme. The assets of the schemes are held in separate funds administered by trustees and invested in them independently of the finances of the Group. The schemes are funded by annual contributions from: a) the Company b) scheme members. As it is not possible to identify the share of underlying assets and liabilities relating to Alpha Partners Leasing Limited, in accordance with FRS102 paragraph 28.11 Retirement Benefits, the scheme has been accounted for as a defined contribution scheme in these financial statements. On this basis, the total employer contributions for 2020 were US$313,000 (2019: US$262,000). The required disclosures related to the schemes are given in the group financial statements of Rolls-Royce Holdings plc. Deferred tax (assets) and liabilities 2020 Liability $000 Audited Property, plant & equipment 253,454 Losses (195) Other timing differences (1,134) 252,125 2019 $000 Audited Property, plant & equipment 206,509 Losses (174) Other timing differences (238) 206,097

Page 34 32. Share capital Authorised, allotted, called up and fully paid shares 2020 2019 'A' & 'B' ordinary shares of $1 each 'A' & 'B' ordinary shares of $1 each Unaudited Audited No. $ No. $ As at 1 January, 1,700 1,700 1,500 1,500 'A' ordinary shares issued - - 100 100 'B' ordinary shares issued - - 100 100 As at 31 December, 1,700 1,700 1,700 1,700 33. Capital reserve The capital reserve was established as on 29 December 2000. This reserve is non-distributable. 34. Commitments Purchase commitments The total amount contracted for but not provided in the financial statements was $Nil (2019: $52,964,000). Prior period commitments relate to contracted purchase obligations and acquisition of aircraft and engines. 2020 2019 $000 $000 Unaudited Audited Purchase commitments - 52,964 - 52,964 35. Financial guarantee contracts The Group and certain affiliates are party to loan facilities. The Company did not provide any guarantee in respect of related parties during the year (2019: $nil). The Group and certain affiliates are also party to private placement loan note funding. The Company did not provide any guarantee in respect of related parties during the year (2019: $nil).

Page 35 36. Related party transactions In the course of normal operations, the Group has contracted on an arm's length basis with subsidiary undertakings of Rolls- Royce Holdings plc ate. The aggregated transactions which are considered to be material and which have not been disclosed elsewhere in the financial statements are summarised below: Income from related parties *includes proceeds from sale of plant, property and equipmen Expenditure with related parties 2020 (Unaudited) $000 315,269 236 Total income 315,505 Amounts receivable from related party 30,924 2019 (Audited) $000 231,283 371 2,312 Total income 233,966 Amounts receivable from related party 12,013 2018 (Unaudited) $000 155,159 340 8,360 Total income 163,859 Amounts receivable from related party 3,639 Rental income and sale of property, plant & equipment Management fee income Rental income and sale of property, plant & equipment* Management fee income Sales of goods made by related parties on behalf of the Group Rental income and sale of property, plant & equipment Management fee income Sales of goods made by related parties on behalf of the Group 2020 (Unaudited) $000 258,501 4,711 Total purchases 263,212 Amounts payable to related party 13,916 2019 (Audited) $000 Purchase of fixed assets 633,806 4,789 115 Total purchases 638,710 Amounts payable to related party 12,332 2018 (Unaudited) $000 Purchase of fixed assets 696,896 6,513 Total purchases 703,409 Amounts payable to related party 26,687 Transfers under lincese agreements Recharged expenditure made on behalf of the Group Purchase of property, plant & equipment Recharged expenditure made on behalf of the Group Recharged expenditure made on behalf of the Group

Page 36 37. Subsidiaries Composition of the Group Details of the subsidiaries in the Group are as follows: Country of incorporation Holding Proportion of voting rights and shares held 2020 2019 Subsidiary undertakings Alpha Leasing Limited* England Ordinary shares 100% 100% Alpha Leasing (No. 4) Limited* England Ordinary shares 100% 100% Alpha Leasing (No.9) Limited* England Ordinary shares 100% 100% Alpha Leasing (No.10) Limited* England Ordinary shares 100% 100% Alpha Leasing (No.11) Limited* England Ordinary shares 100% 100% Alpha Leasing (No.12) Limited* England Ordinary shares 100% 100% Alpha Leasing (No. 14) Limited* England Ordinary shares 100% 100% Omega Leasing Limited England Ordinary shares 100% 100% Omega Leasing (No.4) Limited England Ordinary shares 100% 100% Omega Leasing (No.9) Limited England Ordinary shares 100% 100% Omega Leasing (No.10) Limited England Ordinary shares 100% 100% Omega Leasing (No.11) Limited England Ordinary shares 100% 100% Omega Leasing (No. 12) Limited England Ordinary shares 100% 100% Omega Leasing (No. 14) Limited England Ordinary shares 100% 100% Rolls-Royce & Partners Finance Limited* England Ordinary shares 100% 100% Rolls-Royce Engine Leasing (Labuan) Limited Malaysia Ordinary shares 100% 100% Rolls-Royce Engine Leasing (Labuan) (No. 2) Limited Malaysia Ordinary shares 100% 100%

Page 37 RRPF Engine Leasing Limited England Ordinary shares 100% 100% RRPF Engine Leasing (No.2) Limited* England Ordinary shares 100% 100% RRPF Asset Management Services Limited England Ordinary shares 100% 100% RRPF Aviation Leasing (Tianjin) Limited China Ordinary shares 100% 100% * indicates direct investment of the company Principal activities Alpha Leasing Limited - Holding company Alpha Leasing (No. 4) Limited - Holding company Alpha Leasing (No.9) Limited - Holding company Alpha Leasing (No.10) Limited - Holding company Alpha Leasing (No.11) Limited - Holding company Alpha Leasing (No.12) Limited - Holding company Alpha Leasing (No. 14) Limited - Holding company Omega Leasing Limited - Leasing of aero engines Omega Leasing (No.4) Limited - Leasing of aero engines Omega Leasing (No.9) Limited - Leasing of aero engines Omega Leasing (No.10) Limited - Leasing of aero engines Omega Leasing (No.11) Limited - Leasing of aero engines Omega Leasing (No. 12) Limited - Leasing of aero engines Omega Leasing (No. 14) Limited - Leasing of aero engines Rolls-Royce & Partners Finance Limited - Leasing of aero engines Rolls-Royce Engine Leasing (Labuan) Limited - Leasing of aero engines Rolls-Royce Engine Leasing (Labuan) (No. 2) Limited - Leasing of aero engines RRPF Engine Leasing Limited - Leasing of aero engines RRPF Engine Leasing (No.2) Limited - Leasing of aero engines (2019: Dormant) RRPF Asset Management Services Limited* - Aero engine lease management services RRPF Aviation Leasing (Tianjin) Limited - Leasing of aero engines Registered office The registered address for Rolls-Royce Engine Leasing (Labuan) Limited and Rolls-Royce Engine Leasing (Labuan) (No. 2) Limited is Unit Level 13(A), Main Office Tower, Financial Park Labuan, Jalan Merdeka, 87000, Federal Territory of Labuan, Malaysia. The registered address for RRPF Aviation Leasing (Tianjin) Limited is No. 45, Room 202, Office Area of Inspection Warehouse, No.6262 Aozhou Road, Dongjiang Free Trade Port Z The registered office of all other subsidiary undertakings is 1 Brewer's Green, London, SW1H 0RH, England.

Page 38 38. Post balance sheet events The group has evaluated subsequent events from the balance sheet date through 29 March 2021, the date at which the financial statements were available to be issued and determined there were no additional items requiring disclosure. 39. Parent and ultimate parent undertaking Rolls-Royce Holdings plc, a company registered in England and Wales, and GATX Corporation, a company registered in the United States, are the joint ultimate holding companies. Copies of Rolls- can be obtained from 62 Buckingham Gate, London SW1E 6AT and those of GATX Corporation from 233 South Wacker Drive, Chicago IL 60606-7147, Illinois, USA. 40. US GAAP information Reconciliations to US GAAP The Consolidated Financial Statements are prepared in accordance with UK GAAP, which differ in certain material respects from US GAAP. The following is a summary of the effects of the differences between UK GAAP and US GAAP. Net profit for the years ended 31 December 2020, 31 December 2019 and 31 December 2018 There is no material difference betwee Balance sheet as at 31 December 2020 and 31 December 2019 Statement of cashflows for the years ended 31 December 2020, 31 December 2019 and 31 December 2018 A reconciliation of the consolidated statements of cash flows presented in accordance with FRS102 format to a US GAAP format is set out below. 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Cash flows from operating activities (FRS102) 474,322 461,972 350,555 Reclassification of interest paid, net interest received (109,407) (97,014) (59,441) Cash flows from operating activities (US GAAP) 364,915 364,958 291,114 Cash flows from investing activities (FRS102) (225,313) (825,165) (925,221) Reclassification of interest received (521) (4,486) (820) Cash flows from investing activities (US GAAP) (225,834) (829,651) (926,041) Cash flows from financing activities (FRS102) (194,499) 264,980 674,629 Reclassification of interest paid 109,927 101,500 60,261 Cash flows from financing activities (US GAAP) (84,572) 366,480 734,890 Net increase in cash and cash equivalents 54,510 (98,213) 99,963 Cash and cash equivalents at 1 January 33,186 131,399 31,436 Cash and cash equivalents at 31 December $ 87,696 $ 33,186 $ 131,399

Page 39 Summary of differences between FRS102 and US GAAP (a) Leases -02, Leases (ASC 842), applicable for periods beginning after 15 December 2020. The Group is not required to adopt the FASB issued Accounting Stan -02, Leases (ASC 842) during the year ended 31 December 2020, and therefore applies ASC 840 (see Future application of US GAAP). The requirements of Section 20 of FRS102 is substantially similar to the requirements of ASC 840 and management has assessed there are no material GAAP differences. (b) Income taxes Under UK GAAP, deferred tax is provided in full on timing differences that arise from differences between taxable profits and total comprehensive income, and result in an obligation at the balance sheet date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Under US GAAP, deferred tax assets and liabilities are provided in full on all temporary differences and a valuation adjustment is established in respect of those deferred tax assets where it is more likely than not that some portion will not be realised. Under UK GAAP, deferred tax assets are recognised for future deductions and utilisations of tax carry-forwards to the extent that it is more likely than not that suitable taxable profit is expected to be available. While the effects on the net deferred assets are the same, under US GAAP, the deferred tax assets are recognised at their full amounts and reduced by a valuation allowance to the extent it is more likely than not that suitable taxable profits will not be available. The deferred tax assets as at 31 December 2020 and 2019 relate only to tax losses and have been recognised in full as in our opinion they will be fully recoverable. The Group has not provided certain deferred tax liabilities related to the outside basis differences of its foreign subsidiaries ng for Income Taxes its foreign subsidiaries are not material. (c) Pension The Group noted that guidance for pensions differs significantly between US GAAP and FRS 102. However, as the overall pension plan is immaterial to the Group, it was assessed that any difference caused by application of US GAAP would also be immaterial. (d) Format of financial statements These financial statements have been adapted, to present the primary statements in a format more relevant for a filing in the United States, from those previously presented for the purposes of UK statutory reporting. In adapting these financial statements, management have made the following changes to presentation of certain items within the primary financial statements. Each of these changes listed below to the names of financial statement line items is reflected throughout the primary statements and the footnotes: Consolidated Income statement Net profit on sale of tangible fixed assets is moved above operating profit and renamed Net profit on sale of property, plant, and equipment, and has been reflected throughout the financial statements. Interest receivable and similar income has been renamed Interest income and reflected throughout the financial statements. Interest payable and similar expense has been renamed Interest expense and reflected throughout the financial statements. Profit for the financial year has been renamed Net income. Consolidated Balance sheet: Balance sheet has been reordered to reflect order of liquidity and add in current-non-current classification and subtotals. Receivables, net, of $106,715,000 (2019: $96,630,000) has been presented as Receivables, net of $75,791,000 (2019: $84,618,000) and Receivables from related parties of $30,924,000 (2019: $12,011,000) and reflected throughout the financial statements. Payables: Amounts falling due within one year of $272,743,000 (2019: $292,838,000) has been renamed as Total current liabilities, and presented as Current portion of borrowings of $170,258,000(2019: 208,553,000), Borrowings

Page 40 from related parties of $1,631,000 (2019: $1,639,000), Accounts payable and other current liabilities of $36,283,000 (2019: $39,245,000), Payables to related parties of $6,944,000 (2019: $3,762,000), Deferred income of $51,554,000 (2019: $48,744,000), and Current portion of deposits from customers of $6,073,000 (2019: $2,812,000). Payables: Amounts falling due after more than one year of $3,230,678,000 (2019: $3,259,863,000) has been renamed Total non-current liabilities and presented as Borrowings, net of current portion of $3,079,026,000 (2019: $3,118,454,000), Borrowings from related parties, net of current portion of $5,343,000 (2019: $6,931,000), Other liabilities of $125,313,000 (2019: $107,237,000), and Deposits from customers, net of current portion, of $19,503,000 (2019: $15,234,000) and Derivatives used for hedging of $1,493,000 (2019: nil). Shareholders' funds has been renamed Total equity. Called up share capital has been renamed Share capital. (e) Other The Group does not believe that there is any other material GAAP difference to disclose. Additional disclosure requirements (a) Revenue recognition Certain contracts include sales of aircraft engine parts. For each contract, we determine the transaction price based on the consideration expected to be received. The engine parts have discrete unit prices that represent fair value. Each engine part is usually considered to be a separate performance obligation. Revenue is recognized for each engine part performance obligation at the point in time of delivery to the customer. Customers may be provided with a right to return the part and a customer may receive a full or partial refund, a credit applied to amounts owed, a different product in exchange, or any combination of these items. The potential for customer returns is considered in the estimated transaction price. The amount reported as cost of sales is recorded at average cost. Payments for sales of aircraft engine or aircraft engine parts are typically received shortly after delivery. (b) Fair value measurements disclosure ASC 820-10 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Effective January 2010, the Company adopted new accounting guidance under ASC 820 that requires additional disclosures including, among other things, (i) the amounts and reasons for certain significant transfers among the three hierarchy levels of inputs, (ii) the gross, rather than net, basis for certain level 3 roll forward information, (iii) use of a "class" rather than a "major category" basis for assets and liabilities, and (iv) valuation techniques and inputs used to estimate level 2 and level 3 fair value measurements. In addition, ASC 820-10 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level 1 - inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 - inputs to the valuation methodology are unobservable and significant to the fair value measurement. Assets and liabilities measured at fair value on a recurring basis As of 31 December 2019 and 2020 ivative portfolio consisted of interest rate swaps. The fair value of interest rate swaps is estimated by discounting expected future contractual cash flows using prevailing interest rate curves.

Page 41 We have also considered the credit rating and risk of the counterparty of the derivative contract and as such the valuation of these instruments was classified as Level 2. The following instruments were recognized at fair value using the aforementioned hierarchy: Fair value disclosures of financial instruments The fair value of cash approximate their carrying value because of their short-term nature (Level 2). The fair value of our borrowings is estimated using a discounted cash flow analysis based on current market interest rates and spreads for debt with similar characteristics (Level 2). Derivatives are recognized in the Consolidated Balance Sheet at their fair value. The fair value of interest rate swaps is estimated by discounting expected future contractual cash flows using prevailing interest rate curves. We have also considered the credit rating and risk of the counterparties of the derivative contracts (Level 2). All financial instruments are measured at amortized cost, other than derivatives which are measured at fair value on a recurring basis. The carrying amounts and fair values of our most significant financial instruments as of 31 December 2020 and 2019 were as follows: * Borrowings exclude loan fees and interest rate swaps Carrying amount Fair Value Level 1 Level 2 Level 3 Assets Cash 87,696 87,696 87,696 - - Derivative asset 7,722 7,722 - 7,722 - 95,418 95,418 87,696 7,722 - Liabilities Borrowings * 3,255,814 3,233,008 - 3,233,008 - Payables 69,365 69,365 - 69,365 - Derivative liability 1,493 1,493 - 1,493 - 3,326,672 3,303,866 - 3,303,866 - 31 December 2020 (Unaudited) Carrying amount Fair Value Level 1 Level 2 Level 3 $000 $000 $000 $000 $000 Assets Derivative asset 7,722 7,722 - 7,722 - 7,722 7,722 - 7,722 - Liabilities Derivative liability (1,493) (1,493) - (1,493) - (1,493) (1,493) - (1,493) - Carrying amount Fair Value Level 1 Level 2 Level 3 $000 $000 $000 $000 $000 Assets Derivative asset 4,365 4,365 - 4,365 - 4,365 4,365 - 4,365 - 31 December 2019 (Audited) 31 December 2020 (Unaudited)

Page 42 * Borrowings exclude loan fees and interest rate swaps (c) Derivative financial instruments The following tables present notional amounts and fair values of derivatives outstanding as of December 31, 2020 and 2019: The following gains and losses were recorded in other comprehensive income related to derivative financial instruments for the years ended 31 December 2020, 2019 and 2018. The following table presents the effect of derivatives recorded as reductions to or (increases) in interest expense in our Consolidated Income Statements for the years ended 31 December 2020, 2019 and 2018. Carrying amount Fair Value Level 1 Level 2 Level 3 $000 $000 $000 $000 $000 Assets Cash 33,186 33,186 - 33,186 - Derivative asset 4,365 4,365 - 4,365 - 37,551 37,551 - 37,551 - Liabilities Borrowings * 3,340,300 3,436,905 - 3,436,905 - Payables 63,743 63,743 - 63,743 - 3,404,043 3,500,648 - 3,500,648 - 31 December 2019 (Audited) 2020 2020 2019 2019 Notional Fair value Notional Fair value $000 $000 $000 $000 Unaudited Unaudited Audited Audited Derivative assets designated as fair value hedge Interest rate swaps 95,000 7,722 95,000 3,949 Derivative assets designated as accounting cash flow hedges: Interest rate swaps 76,750 (1,493) 113,076 416 6,229 4,365 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Gain / (Loss) Effective portion of change in fair market value of derivatives designated as accounting cash flow hedges: Interest rate swaps $ (1,317) $ (3,407) $ 929 Income tax effect 246 (37) Net changes in cash flow hedges, net of tax $ (1,071) $ (3,444) $ 929 Years Ended December 31,

Page 43 (d) Leases Finance leases as lessors The cash flows receivable from finance leases as at 31 December 2020 were as follows: Operating leases as lessors The contracted minimum future lease payments receivable from lessees on non-cancellable operating leases for the G owned engines as of 31 December 2020 were as follows: 2020 2019 2018 $000 $000 $000 Unaudited Audited Unaudited Gain / (Loss) Derivatives designated as accounting hedges: Interest rate swaps (216) 1,508 923 Effect of derivatives on interest expense (216) 1,508 923 Years Ended December 31, Years Cashflows receivable $000 2021 36,449 2022 65,170 2023 27,869 2024 27,869 2025 47,905 Thereafter 130,072 Undiscounted cashflows receivable 335,334 Less: Unearned income (53,038) 282,296 Years Total $000 2021 364,861 2022 332,770 2023 314,952 2024 300,918 2025 275,496 Thereafter 755,369 2,344,366

Page 44 Operating leases as lessee The total of future minimum lease payments is as follows: Future application of US GAAP -02, Leases (ASC 842) In -02, Leases (ASC 842). The standard requires lessees to recognize lease-related assets and liabilities on the balance sheet. In certain circumstances, the lessee is required to remeasure the lease payments. Qualitative and quantitative disclosures, regarding the significant judgments made by management, are required to provide insight into the extent of revenue and expense recognized and expected to be recognized from existing contracts. As the Group is not a public business entity, the Group is not required to adopt ASC 842 until annual periods beginning after 15 December 2020. 20-04, Reference Rate Reform (Topic 848) In response to concerns about structural risks of interbank offered rates (IBORs), and, particularly, the risk of cessation of the London Interbank Offered Rate (LIBOR), regulators in several jurisdictions around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. components of those assets and obligations used LIBOR as reference. Topic 848 provides certain optional expediencies and elections should certain conditions be met. The Group will assess the impact of the Reference Rate Reform generally and will consider utilising relevant expediencies and elections where desirable and/or applicable. Years Total $000 2021 567 2022 568 2023 568 2024 568 2025 568 Thereafter 4,668 7,506

XML

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2020	Jan. 31, 2021
Entity Addresses [Line Items]
Document Type	10-K/A
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	1-2328
Entity Registrant Name	GATX Corporation
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	36-1124040
Entity Address, Address Line One	233 South Wacker Drive
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	(312)
Local Phone Number	621-6200
Entity Central Index Key	0000040211
Entity Interactive Data Current	Yes
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		35,100,000
Entity Shell Company	false
Documents Incorporated by Reference	GATX’s definitive Proxy Statement filed on March 12, 2021
ICFR Auditor Attestation Flag	true
Entity Public Float	$ 2.1
NEW YORK STOCK EXCHANGE, INC. [Member] | Common Stock [Member]
Entity Addresses [Line Items]
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock
Trading Symbol	GATX
NEW YORK STOCK EXCHANGE, INC. [Member] | Senior Notes [Member]
Entity Addresses [Line Items]
Security Exchange Name	NYSE
Title of 12(b) Security	5.625% Senior Notes due 2066
Trading Symbol	GMTA
CHICAGO STOCK EXCHANGE, INC [Member] | Common Stock [Member]
Entity Addresses [Line Items]
Security Exchange Name	CHX
Title of 12(b) Security	Common Stock
Trading Symbol	GATX

XML

Cover	12 Months Ended
	Dec. 31, 2020
Cover [Abstract]
Documents Incorporated by Reference	GATX’s definitive Proxy Statement filed on March 12, 2021