AVATION PLC — Capital/Financing Update 2010

Oct 5, 2010

SUPPLEMENTAL PROSPECTUS DATED 5 OCTOBER 2010 TO THE PROSPECTUS DATED 30 SEPTEMBER 2010

AVATION PLC

(Incorporated in England and Wales under the Companies Act 2006 with company number 5872328)

Admission to the Official List (by way of a Standard Listing) and to trading on the London Stock Exchange's main market for Listed Securities 26,219,010 Ordinary Shares in issue following Admission

This supplemental prospectus (the Supplement) to the Prospectus dated 30 September 2010 (the Prospectus) relating to Avation PLC (the Company), constitutes a supplementary prospectus for the purposes of Section 87G of the Financial Services and Markets Act 2000 (FSMA). Terms defined in the Prospectus, as so supplemented, have the same meaning when used in this Supplement. This Supplement has been approved by the Financial Services Authority in accordance with Section 87A of FSMA. This Supplement has been filed with the Financial Services Authority and will be made available to be public in accordance with the Prospectus Rules.

This Supplement is supplemental to, and should be read in conjunction with, the Prospectus and any other supplements to the Prospectus issued by the Company.

The Directors of the Company whose names appear on page 20 of the Prospectus and the Company accept responsibility individually and collectively for the information contained in this Supplement. To the best of the knowledge and belief of the Directors and that Company (who have taken all reasonable care to ensure that this is the case) the information contained in this Supplement is in accordance with the facts and does not omit anything likely to affect the import of such information. All the Directors and the Company accept responsibility accordingly.

The whole text of this Supplement and the Prospectus should be read. An investment in the Company involves risk and, in particular, attention is drawn to the section entitled "Risk Factors" of the Prospectus.

To the extent that there is any inconsistency between (a) any statement in the Supplement or any statement incorporated by reference into the Prospectus by this Supplement and (b) any other statement in or incorporated by reference in the Prospectus since the publication of the Prospectus, the statements in (a) above shall prevail.

Save as disclosed in this Supplement, there has been no other significant new factor, material mistake or inaccuracy relating to information included in the Prospectus, as so supplemented.

AMENDMENT TO THE PROSPECTUS

The final paragraph of the front page of the Prospectus shall be amended to read:

"It should be noted that, as the Company will be listed with a Standard Listing and certain of the Listing Rules will therefore not apply to the Company, the UK Listing Authority will not have the authority to (and will not) monitor the Company's compliance with any of the Listing Rules and/or any provision of the Model Code which would otherwise not apply but which the Company has indicated herein that it intends to comply with on a voluntary basis, nor to impose sanctions in respect of any failure by the Company to so comply."

Dated 5 October 2010