Santiago, Chile - October 28, 2021 - LATAM Group reported that the judge of the Southern District Court of New York approved the request for an extension of the exclusivity period to present its Plan of Reorganization until November 26.

Said request enables the continued progress in the negotiations with the interested parties for the purpose of agreeing on the financial terms and submitting its Plan of Reorganization for approval. This will allow the group to successfully emerge from the Chapter 11 process in compliance with applicable legislation in both the United States and Chile, considering the preemptive subscription rights of shareholders in Chile.

LATAM will actively participate in this process with the conviction that its success and the consensus of all participants will allow the group to be in a position to propose a Plan of Reorganization that can be presented to the New York court, and submitted for approval by creditors, and subsequently, shareholders for implementation.

It should be noted that LATAM Airlines Group and its affiliates in Chile, Colombia, Ecuador, the United States, Peru, and Brazil filed for voluntary protection under the U.S. Chapter 11 financial reorganization statute, after the serious consequences of the COVID-19 pandemic. Through this process, LATAM and said affiliates will have the opportunity to rightsize their operations to the new demand environment and reorganize their balance sheets, enabling them to emerge more agile, resilient and sustainable in the new, post-pandemic era.