About this report ® This 2021 ESG Report demonstrates AAR CORP.’s commitment to Doing It Right . Engagement with our stakeholders in recent years increasingly has emphasized not only the importance of embedding a sustainability mindset into our business and culture but also the need for enhanced transparency about our current environmental, social and governance (ESG) focus areas and related evolving strategies. This inaugural report provides insight into how our business and values have guided our ESG practices and actions in the areas where we believe we can make the most meaningful impact. This report highlights the ESG activities of AAR CORP. and its consolidated subsidiaries (AAR) over Fiscal Years (FY) 2021 and 2020. Included data is current as of May 31, 2021 or FY 2021 (June 1, 2020 through May 31, 2021), unless otherwise indicated. Our current expectation is to issue an ESG report annually. Disclosures in this report reference the latest Global Reporting Initiative (GRI) Standards. GRI provides a globally recognized framework for companies to measure and communicate their environmental, economic, social and governance performance. This report is also prepared using the framework of the Sustainability Accounting Standards Board (SASB), following the guidance for the Aerospace & Defense industry. References to specific GRI and SASB Standards are outlined in the attached GRI and SASB index. Beyond reporting on performance indicators in line with GRI and SASB Standards, this report references additional indicators important to our broad range of stakeholders. AAR management is responsible for the preparation and integrity of the information reported as of May 31, 2021, and for FY 2020 and FY 2021. We did not seek or obtain external assurance from third parties with respect to most of the information in this report. Exceptions are noted. Note about environmental data: The current reporting boundary for our Energy and Emissions data consists of our MRO and manufacturing facilities in the United States and Canada, as well as our corporate headquarters. We believe these sites have the most significant impact on our footprint. Data is excluded from sites with less than 10 individuals or where we may have a significant presence, but no control of the operations. For example, we have excluded the locations where we engage in work contracted by government agencies, but where financial control is maintained by these agencies. Many of the photos used in this report were taken prior to the COVID-19 pandemic and may not reflect related social distancing guidelines, including the wearing of masks. For questions about our report, contact editor@aarcorp.com. 2