LATAM Airlines Group S.A.

- LATAM has a strong and lean balance sheet with high liquidity ($4.1 billion) and low leverage (adjusted net leverage of 1.3x). - The company has significant financial optionality through its asset base, with over $1.5 billion in unencumbered assets providing flexibility. - LATAM has proactively managed its debt maturity profile, resulting in no relevant short- or mid-term maturities. - All debt is now under market conditions, with no legacy from the Chapter 11 process, streamlining the balance sheet. - Credit ratings are solid, with BB category and positive outlooks from major agencies. - No explicit mention of new fundraising through debt or equity was made in the recent disclosures. - The focus is on maintaining liquidity above $4.5 billion and financial flexibility while navigating volatility.

- LATAM plans to incorporate 13 Airbus A321XLR aircraft starting in 2027. - These A321XLRs will feature a premium business cabin with full flat seats, suite doors, direct aisle access, and onboard connectivity. - Deployment locations for these aircraft are still under evaluation, with potential use on long segments to the U.S., Europe, and South America (e.g., Lima, Brasilia, Fortaleza). - The rollout of Wi-Fi connectivity in the wide-body fleet began in March and will continue expanding in coming years. - Expansion of lounge infrastructure at strategic hubs such as Sao Paulo and Miami is underway. - Introduction of a new premium comfort cabin expected from 2027 to enhance the premium product offering further. These investments aim to reinforce LATAM's premium value proposition and maintain consistency in product experience.

- LATAM anticipates capacity adjustments throughout the industry in response to high fuel prices, with potential revenue profile impacted accordingly (Page 5). - Demand remains solid and stable across the network, with strong corporate segments noted, especially domestically in Brazil and internationally (Pages 5-6). - Premium revenues are growing faster than non-premium, now constituting 27% of passenger revenues, supporting higher revenue quality and resilience (Page 6). - Forward bookings for key periods like July show healthy indicators, though visibility beyond a few months remains limited due to domestic passenger mix (Page 7). - LATAM does not provide explicit top line or capacity guidance but emphasizes managing business based on results and network strength, not market share goals (Page 8). - Premium segment expected to continue outperforming total revenues, supported by product improvements and loyalty program expansion (Page 6). - Network strength and premium offering help capture higher-value, less price-sensitive demand, supporting sustainable financial performance (Pages 5-6).

- LATAM replaced its previous full-year 2026 guidance with focused metrics due to volatility (Page 4). - Adjusted EBITDA guidance for 2026 is between $3.8 billion and $4.2 billion (Page 4). - Despite higher fuel prices, LATAM expects a mid- to low single-digit adjusted operating margin in Q2 2026 (Page 4). - Net leverage expected to remain at or below 1.8x, indicating financial stability (Page 4). - No specific top-line or EPS guidance provided, but management emphasizes resilience and disciplined approach amid uncertainty (Pages 5, 9). - The company anticipates capacity adjustments in response to fuel prices and market conditions, aiming for profitable growth (Page 5). - Strong first quarter results set a positive base for future quarters, but full impact of fuel price increases reflected mainly from Q2 onwards (Pages 1, 4).

- LATAM has a total of 13 Airbus A321XLR (XLR) aircraft on order, with deliveries starting in 2027. - These XLRs are intended for long segments, especially routes to the U.S., Europe, and South America. - Initial plans were to deploy these XLRs in Lima, but considering new connection fees in Peru, LATAM is evaluating alternative deployment locations such as Brasilia or Fortaleza. - No final decisions have been made yet on where the XLRs will be deployed. - Deliveries of the XLR aircraft are over a year away, providing additional time for strategic planning regarding their use.