1.- Execute aircraft installer.
2.- When prompted with Prepar3D version, select "P3D v4" or "P3D v4 and up"
3.-Click on "Browse" and select the folder in which you have installed Prepar3D v5.
4.-Once installation is finished, exit the aircraft installer.
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5.- Download the patch and execute it. The patch should detect automatically the folder for P3D v5, then select Install.
6.- Execute P3D v5 and load your aircraft as usual.