Fortress Transportation and Infrastructure Investors LLC 8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Stock

Coupon is fixed until 12/15/2024 at 8.00% after which it will float at 3 month Libor plus a spread of 6.447%.

This is a K-1 issuing security

Ticker: FTAI-B

Parent Ticker: FTAI

OTC Grey Market Temporary Ticker: FTABP

Issuance Date: 11/22/2019

1st Call Date: 12/15/2024

Maturity Date: None

Shares Issued: 4,000,000

Overallotment Shares: 600,000

Coupon: 8.00%

Face Value: $25.00

Cumulative: Yes

Qualified: No

Quarterly Dividend Amount: 0.50

Ex-Dividend Months: FEB, MAY, AUG, NOV

Approx. Ex-Dividend Day: Last Day

Payment Months: MAR, JUN, SEP, DEC

Payment Day: 15

S&P Rating: NR

III Rating (In Regards to Dividend Safety Only): C

Moody Rating: NR

Fitch Rating: NR