PRECISION AVIATION GROUP, INC. EXPANDS ENGINE SERVICES DIVISION WITH THE ACQUISITION OF PTB GROUP

ATLANTA,March 7,2023 -- Atlanta-based Precision Aviation Group,Inc. (PAG),a leading provider of products and value-added services to the aerospace and defense industries,is pleased to announce the acquisition of PTB Group (PTB).

PAG Announces PTB Acquisition Photo

PTB provides maintenance,repair,and overhaul (MRO) services on Pratt & Whitney PT6 and Honeywell TPE331 engines,engine leases and airframes,and aviation supply chain services. PTB is comprised of Pacific Turbine USA Group (a/k/a Prime Turbines) with locations in Texas,Arizona,Florida,and Pennsylvania; and Pacific Turbine Brisbane and Pacific Turbine Leasing in Brisbane,Australia and International Air Parts in Sydney,Australia.

"This acquisition expands PAG's Engine Services Division with the addition of PT6 and TPE331 engine services,and significantly enlarges our Supply Chain offerings. PTB is focused on providing exceptional customer service and exceeding customer expectations. We are most enthusiastic about this acquisition," said David Mast,President and CEO of PAG.

Stephen Smith,PTB's Chairman Emeritus said,"We are pleased to join PAG and know they are committed to the continued expansion of our products and services and ensuring continued opportunities for our international workforce. PAG has a shared vision with PTB,and I see an exciting future ahead."

About PTB Group

PTB Group provides maintenance,repair and overhaul ("MRO") services for Pratt & Whitney PT6 and Honeywell TPE331 Engines,Aircraft/Engine Leasing and aircraft and engine related supply chain services. PTB Group employs over 180 personnel and has a diverse customer base throughout the world including Australia,North and South America,Asia and the Pacific Islands (www.pacificturbine.com.au) and (www.primeturbines.com).

About Precision Aviation Group

Precision Aviation Group (PAG) is a leading provider of products and value-added services to the aerospace and defense industries worldwide. With 20 Repair Stations,and over 850,000-square-feet of sales and service facilities in the United States,Canada,Australia,Singapore,and Brazil – PAG's 23 locations and customer-focused business model serve aviation customers through Supply Chain and Inventory Supported Maintenance,Repair and Overhaul (ISMRO®) services.

PAG provides MRO and Supply Chain Solutions for Fixed- and Rotary-wing aircraft. PAG has MRO and manufacturing capabilities on over 100,000 product lines in four MRO segments – Avionics,Components,Engines and Sub-Assembly/Manufacturing/DER Services.

(www.precisionaviationgroup.com)

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