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Spritz the air fryer basket with cooking spray.
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In a large bowl, stir together the sugar and cinnamon. Add the peaches to the bowl and toss to coat evenly.
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Spread the coated peaches in a single layer on the basket.
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Put the air fryer basket on the baking pan and slide into Rack Position 2, select Air Fry, set temperature to 350ºF (180ºC) and set time to 10 minutes.
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After 5 minutes, remove from the oven. Turn the peaches over. Lightly mist them with cooking spray. Return to the oven to continue cooking.
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When cooking is complete, the peaches will be lightly browned and caramelized. Remove from the oven and let rest for 5 minutes before serving.