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    Will Waller

    Portfolio Manager at M3F, Inc

    Will Waller is a Portfolio Manager at M3F, Inc., specializing in hedge fund management with a focus on financial services and banking companies. He has covered firms such as Willis Lease Finance Corp and Winchester Bancorp, Inc., demonstrating targeted expertise evidenced by M3F's disclosed trading activity and portfolio positions. With nearly 14 years at M3F, Waller has a long tenure in investment management, though details about his prior experience and specific quantitative performance metrics are limited. Professional credentials, including FINRA registration and securities licenses, are not publicly available based on current records.

    Will Waller's questions to WILLIS LEASE FINANCE (WLFC) leadership

    Will Waller's questions to WILLIS LEASE FINANCE (WLFC) leadership • Q2 2025

    Question

    Will Waller of M3F, Inc. questioned the significant drop in long-term maintenance reserve revenue compared to previous quarters and the corresponding increase in the maintenance reserve liability, asking if lease extensions were a primary factor. He also inquired about the timing and income statement impact of government grants for the sustainable fuel project.

    Answer

    CEO Austin Willis explained that the low long-term maintenance revenue was primarily due to the timing of engines coming off lease rather than an unusual number of extensions. CFO Scott Flaherty added that core short-term maintenance revenue grew nearly 10% and the liability growth represents future income. Regarding the grants, Flaherty confirmed that a grant exceeding $6 million was received and recognized in Q2, while another awarded grant of over $4 million will be recognized upon receipt, with the majority of project costs having been incurred in Q1.

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