Dear Participants,
Depósito Central de Valores (DCV) informs you that on November 3, 2022, series "B," "D," and "E" bonds of LATAM AIRLINES GROUP S.A. will be allocated in settlement ("dación de pago") and exchanged; issued chargeable to the bonds line registered in the Securities Register of the Financial Market Commission (CMF) under No. 862 for series B and D, and line No. 921 for series E, through the settlement ("dación de pago") and exchange of the amount corresponding to each holder, of new series G and I convertible bonds and/or new series F subordinated bonds (non-convertible) (together, the "New Bonds.") The bondholders that have met the rules that regulate the offer of the New Bonds in the Chapter 11 Proceedings, that are holders of series "B," "D," and "E" bonds at midnight (N.Y. time) of (i) September 12, 2022 (in the case of those holders that have chosen to participate in the new Series G and/or l convertible bonds), or (ii) of May 31, 2022 (in the case of those holders that have chosen to participate in the new Series F subordinated bonds (non-convertible) will participate in the settlement ("dación en pago") and exchange process.
For BLATM-A y BLATM-C bonds, both issued chargeable to the bond series registered in the Financial Market Commission (CMF) under No. 862, the depositors that have met the rules that regulate the offer of the New Bonds in the Chapter 11 Proceedings, and that kept the holding of BLATM-A y BLATM-C bonds (i) until their maturity date (if not materialized), as well as by midnight (N.Y. time) of September 12, 2022 (in the case of those holders that have chosen to participate in the new Series G and/or l convertible bonds), or (ii) of May 31, 2022 (in the case of those holders that have chosen to participate in the new Series F subordinated bonds (non-convertible) will also participate in that settlement ("dación de pago") and exchange process.
In the case of having transferred BLATM-A y BLATM-C bonds after their corresponding maturity date, but before midnight (N.Y. time) of September 12 or May 31, 2022, as appropriate, the holders will participate in that settlement ("dación de pago") and exchange process, as appropriate, to the extent that the corresponding holders have met the rules regulating the offer of the New Bonds in the Chapter 11 Proceedings.
The settlement ("dación de pago") and exchange process is intended to instrumentalize the provisions of the reorganization and financing plan (the "Reorganization Plan") of LATAM and some of its subsidiaries that have been approved and confirmed in its reorganization proceedings in the United States of America (The "Chapter 11 Proceedings") before the Bankruptcy Court of the Southern District of New York in virtue of the rules established in Chapter 11, Title 11 of the Code of the United States.
G and I series convertible bonds, as well as the series F subordinate bond (non-convertible), will be used to extinguish, through the settlement ("dación de pago") process, certain existing debts against LATAM at the date of presenting the voluntary petition to adhere to Chapter 11 Proceedings. The difference between them is that the recipients of the series G convertible bonds and series F subordinated bonds (non-convertible) will be the unsecured creditors of LATAM that choose not to contribute with new resources to LATAM (receiving such bonds in exchange and settlement for their loans), the recipients of the Series I convertible bonds will be unsecured creditors that choose to contribute with new funds to the Company.
The depositors that keep holdings of bonds "B," "C," and "E" at the close of business on Wednesday, November 2, 2022, will start the day of November 3, 2022, without any holdings in those bonds. The instruments will be fully prepaid through the delivery of the new convertible bonds.
The determination of the number of new series G and I convertible bonds and the series F subordinated bond (non-convertible) to deliver to each Depositor will be defined by the issuer, and their delivery will be made through free-of-payment transactions between DCV and each Depositor, without requiring the intervention of the Depositors.
Finally, we would like to inform you that the prepayment event does not consider any cash movements in DCV, even though the reports generated by DCV due to the event will be sent to the eligible Participants with the securities payable at zero ("0").
For more information, please contact:
Help Desk, MAC
Kind regards,
DEPÓSITO CENTRAL DE VALORES S.A.,
DEPÓSITO DE VALORES
EN 
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