LATAM AIRLINES GROUP SA

FORWARD-LOOKING STATEMENTS

This annual report contains forward-looking statements. Such statements may include words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “forecast” or other similar expressions. Forward-looking statements, including statements about our beliefs and expectations, are not statements of historical facts. These statements are based on current plans, estimates and projections, and, therefore, you should not place undue reliance on them. Forward-looking statements involve inherent risks and uncertainties. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to:

•conflicting interests among our major shareholders;

•the factors described in “Item 3. Key Information-Risk Factors”;

•our ability to service our debt and fund our working capital requirements;

•future demand for passenger and cargo air services in Chile, Brazil, other countries in Latin America and the rest of the world;

•maintenance of our customer relationships due to potential changes in customers’ perception of the company, our brands and services in the future;

•the state of the Chilean, Brazilian, other Latin American and world economies and their impact on the airline industry;

•the effects of competition in the airline industry;

•future terrorist incidents, cyberattacks or related activities affecting the airline industry;

•future outbreak of diseases, or the spread of already existing diseases, affecting travel behavior and/or exports;

•natural disasters affecting travel behavior and/or exports;

•the relative value of the Chilean peso and other Latin American currencies compared to other world currencies;

•the impact of geopolitical risk on the price of fuel, exchange rates, and demand for travel;

•inflation;

•competitive pressures on pricing;

•our capital expenditure plans;

•changes in labor costs, maintenance costs and insurance premiums;

•fluctuation of crude oil prices and its effect on fuel costs;

•cyclical and seasonal fluctuations in our operating results;

•defects or mechanical problems with our aircraft;

•problems with suppliers of aircraft, aircraft engines and engine parts;

•our ability to successfully implement our growth strategy;

•increases in interest rates; and

•changes in regulations, including regulations related to access to routes in which the group operates and environmental regulations.

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Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update any of them, whether in light of new information, future events or otherwise. You should also read carefully the risk factors described in “Item 3. Key Information-Risk Factors.”

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