LATAM Useful Information - End of the POP and second round (Oct 13, 2022)

Dear Participants,
Depósito Central de Valores informs that regarding the placement process of the 73,809,875,794 cash shares, issued and registered under No. 1,120 on September 2, 2022, in the Securities Register of the Financial Market Commission, chargeable to the capital increase agreed in the Extraordinary Shareholders' Meeting of LATAM Airlines Group S.A. ("LATAM") on July 5, 2022, LATAM informs the following:

(A) The 30-day legal period of the preferred stock (the "POP") will end on October 12, 2022. The remainder of the POP shall be offered in a second round (the "Second Round") to the shareholders or transferees that have subscribed stock in the POP and that have expressed to LATAM, at the moment of the subscription, their intention to be part of the Second Round, as per the distribution criteria announced by LATAM due to the POP, both in the notice published according to article 10 of the Corporations Regulation, as well as in the corresponding notice to the shareholders.

(B) In line with the subscription procedure and the payment of this capital increase, only those subscriptions that at the end of the last day of the POP are fully paid and have been effectively received in the corresponding funds and whose subscription contract is signed by the corresponding shareholder or transferee will be processed.

This is especially important for calculating the unsubscribed shares remainder given by the POP, which ends at midnight of October 12, 2022, and will allow having timely information on the number of remaining shares that will be offered in the Second Round. Only those shares subscriptions that correspond to the POP and are fully subscribed and effectively received in the corresponding funds and whose subscription contract is signed by the corresponding shareholder or transferee by October 12 will be processed.

(C) The Second Round will take place on Thursday, October 13, 2022, at 10:00 a.m. in the offices of DCV Registros at Los Conquistadores 1730, floor 24, Providencia, Santiago.

(D) The shares to be subscribed in the Second Round, as with the POP, will be payable at the price of US$0.01083865799 (zero point zero one zero eight three eight six five seven nine nine U.S. Dollars) per share, in full at the moment of subscription by the corresponding shareholder or transferee, in U.S. Dollars, either in cash or via wire transfer with immediately available funds; or in pesos, the currency of legal tender, according to the "observed dollar" exchange rate published by the Central Bank of Chile in the Official Gazette on the date of the corresponding payment, either in cash, a bank sight draft or via wire transfer with immediately available funds.

Due to the above, and to avoid any doubts, it is stated that the subscription will only take place for all relevant purposes. Therefore, each subscription contract will only be accepted and signed by LATAM and will lead to the contractual relationship considered - against full payment and the effective receipt of the corresponding funds..

(E) The shareholders or transferees with the right to participate in the Second Round will be entitled to subscribe a certain number of LATAM shares per each share that they have subscribed in the POP (the "Prorating") that LATAM will announce with the rest of the relevant information of the Second Round on its website www.latamairlinesgroup.net, as Useful Information on October 13, 2022, before the opening of the local stock markets.

In any case, the Prorating will be adjusted and flexibilized according to the shareholders or transferees with rights that attend the Second Round at the informed time and location so that among all those that attend and meet the requirements, they can subscribe and take all the mentioned remainder of stock.

(F) The shareholders or transferees may not transfer the right to participate in the Second Round - except for the transfer of the option to have subscribed during the POP - but may decline in favor of the other interested parties entitled to participate in the Second Round all or part of the shares that they are entitled.

(G) For the Second Round, the shareholders or transferees with rights that wish to participate in it must (i) attend at the time and place indicated in letter (B) above on October 13, 2022, and (ii) have the funds available to pay the shares subscription price.

Those shareholders or transferees with rights that do not attend in full or in part to subscribe this remainder in the terms and conditions established in letter (G) will be understood as declining the right to subscribe the corresponding shares in favor of the rest of the interested parties with the right to participate in the Second Round, so that, as mentioned, among all that attend and meet the requirements can subscribe the entire remainder left in the Second Round, with which the subscription prorating will be adjusted and flexibilized for that purpose.

(H) If, after the Second Round, there is any remainder of shares that have not been placed, the Board of Directors will be entitled to determine the procedures to offer and place such remainder under the corresponding legal rules and regulations among the Backstop Creditors and the Backstop Shareholders who have ensured the placement of all the shares as backstop parties of the Reorganization Plan according to the provisions of the latter, in the Restructuring Backstop Agreement, and the Backstop Commitment Agreements, as informed by LATAM through essential facts in the last months (the "Third Round"). For these purposes: (a) The Reorganization Plan corresponds to the reorganization and funding plan of LATAM and its subsidiaries that are subject to the reorganization procedure under the regulations of Chapter 11, Title 11 of the U.S. Code, to emerge successfully from that procedure; (b) Backstop Creditors correspond to the group of unsecured creditors of LATAM represented by Evercore and certain bondholders of Chilean bonds issued by LATAM; (c) Backstop Shareholders correspond to Delta Air Lines, Inc., Qatar Airways Investments (U.K.) Ltd. and the Cueto group; and (d) the Backstop Commitment Agreements correspond to the Backstop Commitment Agreement initially subscribed with the Backstop Creditors on January 12, 2022, as amended from time to time, and the Backstop Commitment Agreement initially subscribed with the Backstop Shareholders also on January 12, 2022, as amended from time to time.

(I) It is reiterated that regarding the Second Round, just like in the POP and the Third Round, if any, the shares subscription contracts, and therefore their registration in LATAM's Shareholders' Register and the provision of the corresponding shares, will be held in escrow (deposit) in the hands of one or more deposit agents until the occurrence of the Effective Date of the Plan. On the Effective Date of the Plan, such agents will deliver the referred subscription contracts to LATAM and will also deliver the shares to their corresponding subscribers, all according to the provisions of the Reorganization Plan. Similarly, the funds received against the signature of those share subscription contracts will also be held in escrow (deposit) in the hands of one or more deposit agents in a special deposit account, who will deliver them to LATAM on the Effective Date of the Plan, according to its provisions. For these purposes, the Effective Date of the Plan corresponds to the date the Reorganization Plan will become effective after the compliance or decline of the conditions included.

As it has been informed to the market, the Effective Date of the Plan is expected to occur in the third quarter of 2022.

(J) May you have any questions, please contact: This email address is being protected from spambots. You need JavaScript enabled to view it..

For more information, please contact
the Shareholders' Service Department.

Kind regards,
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES