<SEC-DOCUMENT>0001628280-25-036276.txt : 20250729
<SEC-HEADER>0001628280-25-036276.hdr.sgml : 20250729
<ACCEPTANCE-DATETIME>20250728195924
ACCESSION NUMBER:		0001628280-25-036276
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20250630
FILED AS OF DATE:		20250729
DATE AS OF CHANGE:		20250728

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LATAM AIRLINES GROUP S.A.
		CENTRAL INDEX KEY:			0001047716
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14728
		FILM NUMBER:		251157225

	BUSINESS ADDRESS:	
		STREET 1:		PRESIDENTE RIESCO 5711 20TH FLOOR
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO
		STATE:			F3
		ZIP:			999999999
		BUSINESS PHONE:		5625652525

	MAIL ADDRESS:	
		STREET 1:		PRESIDENTE RIESCO 5711 20TH FLOOR
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO
		STATE:			F3
		ZIP:			999999999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Lan Airlines SA
		DATE OF NAME CHANGE:	20041015

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAN CHILE SA
		DATE OF NAME CHANGE:	19990427

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHILEAN AIRLINE SA  LANCHILE
		DATE OF NAME CHANGE:	19971010
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>latamairlinesgroupsa6-kx2q.htm
<DESCRIPTION>6-K
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2025 Workiva -->
<title>Document</title></head><body><div id="ic569d64743f24e6882b21e774efd5441_1"></div><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:3pt double #000;padding:0 1pt"></td></tr></table></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:14pt;font-weight:700;line-height:120%">UNITED STATES</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:14pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Washington, D.C. 20549</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">_________________________________________________________________</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:14pt;font-weight:700;line-height:120%">FORM 6-K</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">_________________________________________________________________</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">REPORT OF FOREIGN PRIVATE ISSUER</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">PURSUANT TO RULE 13a-16 OR 15d-16</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">UNDER THE SECURITIES EXCHANGE ACT OF 1934</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">July 2025</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Commission File Number 1-14728</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">_________________________________________________________________</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:16pt;font-weight:700;line-height:120%">LATAM Airlines Group S.A. </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">(Translation of Registrant&#8217;s Name Into English)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">_________________________________________________________________</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Presidente Riesco 5711, 20th floor </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Las Condes </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Santiago, Chile</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">(Address of principal executive offices)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">_________________________________________________________________</font></div><div style="margin-top:10pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F&#58;</font></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Form 20-F </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">x</font><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Form 40-F </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:10pt;font-weight:400;line-height:120%">o</font></div><div style="margin-top:10pt;text-align:justify"><font><br></font></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:3pt double #000;padding:0 1pt"></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="ic569d64743f24e6882b21e774efd5441_4"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">LATAM AIRLINES GROUP S.A.</font></div><div style="margin-top:10pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following exhibit is attached&#58;</font></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:83.143%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">EXHIBIT NO.</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">DESCRIPTION</font></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">99.1</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a href="results-eng2q2025.htm" style="color:#0000ff;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">LATAM Airlines Group 2Q 2025 Results</a></font></div></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:115%">1</font></div></div></div><div id="ic569d64743f24e6882b21e774efd5441_7"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="margin-top:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES </font></div><div style="margin-top:10pt;text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</font></div><div style="margin-top:10pt;text-align:justify;text-indent:36pt"><font><br></font></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.263%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.021%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:45.416%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58; July 28, 2025</font></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">LATAM AIRLINES GROUP S.A.</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47; Ricardo Bottas</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Name&#58; </font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Ricardo Bottas</font></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Title&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Chief Financial Officer</font></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:115%">2</font></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>results-eng2q2025.htm
<DESCRIPTION>EX-99.1
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2025 Workiva -->
<title>Document</title></head><body><div id="i906ad68acd6742bf897d538d56f82e4d_1"></div><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">         </font></div><div id="i906ad68acd6742bf897d538d56f82e4d_4"></div><div style="padding-left:0.23pt;text-align:justify;text-indent:-0.18pt"><font style="background-color:#ffffff;color:#1b0088;font-family:'Arial',sans-serif;font-size:14pt;font-weight:700;line-height:115%">LATAM achieves a 12.9% adjusted operating margin, a 3.9 percentage point annual increase, with 8.3% capacity growth in the second quarter, demonstrating consistent profitable growth</font></div><div style="padding-left:0.23pt;text-align:justify;text-indent:-0.18pt"><font><br></font></div><div style="text-align:justify"><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:112%">Santiago, Chile, July 28, 2025 &#8211; LATAM Airlines Group S.A. (NYSE&#58; LTM&#59; SSE&#58; LTM) announced today its consolidated financial results for the second quarter ending June 30, 2025. References to &#34;LATAM&#34;, &#34;LATAM Airlines Group&#34;, the &#8220;Company&#8221; or the &#34;parent company&#34; pertain to LATAM Airlines Group S.A., and references to &#8220;LATAM group,&#8221; &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; or the &#8220;group&#8221;  refer to LATAM Airlines Group S.A. and its consolidated affiliates, both passenger and cargo affiliates. LATAM prepares its financial statements under IFRS as issued by the IASB, however, for ease of presentation and comparison, the Income Statement in this report is presented in an adapted US Format. On some occasions, adjustments to these Income Statement figures are made for Special Items. A table reconciling the figures adjusted for Special Items to their as-reported IFRS figures can be found at the end of the report. All figures in this report are expressed in U.S. dollars. Percentages and certain U.S. dollar, Chilean peso and Brazilian real amounts contained in this report have been rounded for ease of presentation. Any discrepancies in any table between totals and the sums of the amounts listed are due to rounding. The Brazilian real &#47; U.S. dollar average exchange rate for the quarter was BR</font><font style="background-color:#ffffff;color:#808080;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:112%">L 5.66 per USD (compared to BRL 5.21 per U</font><font style="color:#808080;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:112%">SD in 2Q 2024)</font></div><div style="text-align:justify"><font><br></font></div><div id="i906ad68acd6742bf897d538d56f82e4d_7"></div><div><font style="color:#1b0088;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:700;line-height:100%">HIGHLIGHTS</font></div><div style="padding-left:0.23pt;text-align:justify;text-indent:-0.18pt"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.095%"><tr><td style="width:1.0%"></td><td style="width:63.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.742%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.743%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1b0088;border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Key Financial Results and Indicators</font></div></td><td colspan="3" style="background-color:#1b0088;border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">2Q25</font></td><td colspan="3" style="background-color:#1b0088;border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">2Q24</font></td><td colspan="3" style="background-color:#1b0088;border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Var. </font></div></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Total Revenues (US$ million)</font></div></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">3,279</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">3,030</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">+8.2%</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Adjusted EBITDAR (US$ million)</font></div></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">850</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">619</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">+37.4%</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Adjusted EBITDAR Margin</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">25.9%</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">20.4%</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">+5.5pp</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Adjusted Operating Income (US$ million)</font></div></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">423</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">274</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">+54.4%</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Adjusted Operating Margin</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">12.9%</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">9.0%</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">+3.9pp</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Net Income attributable to owners of the parent company (US$ million)</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">242</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">146</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">+66.0%</font></td></tr><tr><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Net Income Margin</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">7.4%</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">4.8%</font></td><td colspan="3" style="border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">+2.6pp</font></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #dbdbdb;border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Adjusted Passenger CASK ex-fuel (US$ cents)</font></td><td colspan="3" style="border-bottom:1pt solid #dbdbdb;border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">4.3</font></td><td colspan="3" style="border-bottom:1pt solid #dbdbdb;border-left:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">4.1</font></td><td colspan="3" style="border-bottom:1pt solid #dbdbdb;border-left:0.5pt solid #cacbcb;border-right:0.5pt solid #cacbcb;border-top:0.5pt solid #cacbcb;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">+3.8%</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:23.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%;padding-left:12.78pt">LATAM Airlines Group delivered its strongest-ever second quarter, reporting historic highs in operating revenue, adjusted EBITDAR, adjusted operating income, margins and net income, underscoring the value of its business model, solid strategy, strong execution and favorable fuel environment.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:23.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%;padding-left:12.78pt">During the second quarter of 2025, LATAM group&#8217;s consolidated capacity increased by 8.3% compared to the same period of 2024. The quarter reflected solid operational performance, with a consolidated load factor of 83.5%, improving 1.2pp year-over-year, driven by a strong international load factor of 84.8%, as well as improvement in LATAM Airlines Brazil's domestic operations, where load factor rose to 82.6%, representing a 2.8pp increase year-over-year.</font></div><div><font><br></font></div><div style="padding-left:23.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%;padding-left:12.78pt">LATAM returned a total of US$445 million to shareholders during the second quarter of 2025&#8212;US$293 million through the payment of 2024 dividends and US$152 million via its first share repurchase program&#8212;reinforcing the group&#8217;s strong financial position and capital allocation discipline.</font></div><div><font><br></font></div><div style="padding-left:23.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%;padding-left:12.78pt">The Company ended the quarter with US$3.6 billion in liquidity, equivalent to 27.2% of last twelve months&#8217; revenues, and maintained an adjusted net leverage of 1.6x, demonstrating a solid balance sheet and continued financial discipline.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:23.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%;padding-left:12.78pt">In an Extraordinary Shareholders&#8217; Meeting held on June 26, 2025, a second share repurchase program of up to 3.4% of outstanding shares was approved. Under this framework, the Board of Directors authorized a second 30-day local pro-rata OFB (</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-style:italic;font-weight:400;line-height:115%">Oferta Firme en Bloque)</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> mechanism for up to 2.4% of the shares, which was launched on July 1st at CLP$19.00 per share, and will remain effective until July 30th. This second program reflects the group&#8217;s strong financial position and commitment to shareholder return.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:23.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%;padding-left:12.78pt">LATAM Airlines Group has fully extinguished its high interest rate debt stemming from 2022. On June 26th, the group also announced its successful debt refinancing, which contemplated the issuance of US$800 million in senior secured notes in the international market, with a coupon of 7.625%, maturing in 2031. Proceeds were used to prepay the US$700 million in high-cost 2029 notes (13.375%), thus reducing the interest rate by over 570 bps. </font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="padding-left:23.6pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">LATAM's total weighted average cost of debt was reduced by 94bps. The transaction is expected to generate US$33 million in annual net savings in interest payments, with a one-time US$104 million non-operating Income Statement impact in the third quarter of 2025.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:23.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%;padding-left:12.78pt">In June, LATAM received nine Skytrax World Airline Awards, including Best Airline in South America for the sixth consecutive year, and Best Airline Staff in South America for the fourth year in a row. Notably, 2025 marked the first time that LATAM won every Skytrax award available in the South American category, including awards for best business and economy class, onboard catering, cabin cleanliness, crew and lounges.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:23.6pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%;padding-left:12.78pt">As part of its commitment to sustainability, LATAM continued to strengthen its Fuel Efficiency Program by implementing a performance monitoring software across the entire fleet that has the potential to reduce annual fuel costs by nearly 8,000 tons of CO</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.82pt;font-weight:400;line-height:115%;position:relative;top:1.48pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> per year. Since its launch in 2010, the Fuel Efficiency Program has helped LATAM avoid more than 5.6 million tons of CO</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.82pt;font-weight:400;line-height:115%;position:relative;top:1.48pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#ed1650;font-family:'Verdana',sans-serif;font-size:10pt;font-weight:700;line-height:85%"> MANAGEMENT COMMENTS - SECOND QUARTER 2025</font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">The second quarter of 2025 reaffirmed LATAM group&#8217;s ability to deliver profitable growth with consistency and discipline, despite seasonality and global macroeconomic uncertainty. It marked LATAM&#8217;s strongest second-quarter performance on record, across financial and operational metrics, highlighting the structural strength of its business model.</font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">Demand remained robust throughout the quarter, reflecting the continued preference of passengers for LATAM group&#8217;s differentiated value proposition. In line with its commitment to delivering a superior travel experience, the group continued investing in the premium segment, launching its new Business Class Suites across the wide-body fleet&#8212;featuring suites with doors, a first in South America&#8212; enhancing comfort and privacy for long-haul travelers. In parallel, LATAM group announced an investment to equip all wide-body aircraft with onboard Wi-Fi starting in 2026. These initiatives were complemented by the debut of the Signature Check-in at the new Lima Airport, further reinforcing the group&#8217;s premium offering. Customer satisfaction (via Net Promoter Score, NPS) remains at all-time high levels, evidencing the positive results of these investments and the continued customer preference across its network.</font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">Operational growth remained a key driver of performance. LATAM group has been increasing capacity, while the global aviation industry continues to face supply chain challenges affecting aircraft availability. The group has continued to receive aircraft in line with its fleet plan. During the quarter, LATAM group incorporated twelve aircraft (10 A320neos, 1 A321neo and 1 A330 via short-term lease) totaling 14 aircraft received so far in 2025.</font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">This continued fleet expansion has allowed LATAM group to reinforce its growth strategy by allocating capacity to attractive affiliate markets. LATAM Airlines Brazil launched six new domestic routes and expanded regional operations to and from Argentina. Growth in Brazil also benefited from the resumption of operations at Porto Alegre airport, which had been closed in the second quarter of 2024 due to flooding. Internationally, LATAM group expanded its Joint Venture with Delta Air Lines through the inclusion of Argentina in the agreement scope, improving the connectivity between South America and North America.</font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8220;Our second-quarter results clearly demonstrate the operational and financial strength of the group, and its ability to navigate a volatile and uncertain macroeconomic environment,&#8221; said Ricardo Bottas, CFO of LATAM Airlines Group. &#8220;LATAM group remains firmly committed to the disciplined execution of our profitable growth strategy, investing continuously in product and service enhancements, focused on initiatives that elevate the customer experience across the group's network&#8221;</font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">Entering the second half of the year, the group continues to demonstrate that in the face of external challenges, its business diversification, cost discipline, and the flexibility to reallocate capacity provide the foundation to meet its commitments. LATAM group remains focused on disciplined execution, leveraging its strengths for profitable growth and reinforce its market share growth in the region.</font></div><div style="padding-left:7.08pt;text-align:justify"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify"><font><br></font></div><div id="i906ad68acd6742bf897d538d56f82e4d_10"></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font style="color:#1b0088;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">MANAGEMENT DISCUSSION AND ANALYSIS OF SECOND QUARTER 2025 RESULTS</font></div><div style="padding-left:7.08pt;text-align:justify"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify;text-indent:-0.18pt"><font style="color:#ee2724;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%">Total operating revenues</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> amounted to US$3,279 million in the second quarter, an increase of 8.2% compared to the same period of 2024, explained by a 8.5% increase in passenger revenues and a 10.2% increase in cargo revenues. For the second quarter of 2025, passenger and cargo revenues accounted for 86.1% and 12.8% of total operating revenues, respectively.</font></div><div style="padding-left:7.08pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#1b0088;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:112%;padding-left:14.33pt">Passenger revenues</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%"> amounted to US$2,824 million in the second quarter, increasing 8.5% versus the same period of 2024. This was driven mainly by an 8.3% capacity increase during the quarter, measured in ASKs, while passenger unit revenue (PRASK) had a slight increase of 0.2%, reaching US$6.9 cents. </font></div><div style="padding-left:7.08pt"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#1b0088;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Cargo revenues</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> amounted to US$419 million in the second quarter, increasing 10.2% versus the same period of 2024. Increasing unit revenue and capacity contributed to the additional revenue generated. Cargo capacity, measured in ATK, grew by 3.9%, while unit revenue, measured in RATK, increased by 6.0%, mainly driven by continued strong southbound demand from Europe and North America to South America and supported by a positive Mother's Day season in which LATAM cargo affiliates transported over 25,000 tons of flowers.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#1b0088;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Other income</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> amounted to US$36 million in the second quarter, a decrease of US</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">$11 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">million compared to the same period of 2024.</font></div><div><font><br></font></div><div style="padding-left:7.08pt;text-align:justify"><font style="color:#ed1650;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%">Total adjusted operating expenses </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">reached US$2,856 million during the quarter, increasing 3.6% versus 2Q24. This slight increase was primarily driven by an 8.3% increase in passenger operations, partially offset by a 16.1% reduction in average jet fuel prices (including hed</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">ges) and a 8.6% depreciation of the Brazilian real.</font></div><div style="padding-left:7.08pt"><font><br></font></div><div style="padding-left:7.08pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">The changes in adjusted operating expenses during the quarter were mainly explained by&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Wages and benefits </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">rose 10.7% year-over-year, primarily due to </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">a 6.8% </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">increase in the average headcount of the group, particularly in cabin crew, in line with the increase in passenger operations. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Aircraft fuel costs </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">decreased 10.6% versus the same period of 2024, driven by a 16.1% decrease in the average jet fuel price (including hedges) and a 6.5% increase in fuel consumption associated with the expansion of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Commissions to agents </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">increased 5.3% compared to 2Q24, reflecting the increased level of operations and partially offset by a greater penetration of digital direct sales. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Depreciation and amortization </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">increased 23.9% versus 2Q24, primarily due to a higher average number of aircraft in the fleet. During the second quarter of 2025, LATAM group operated an average of 355 aircraft, up from 338 aircraft in the same period last year. The increase is also driven by a shift in fleet composition, as the group continues incorporating newer and higher-value aircraft as part of its fleet renewal strategy.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Other rental and landing fees </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">increased 1.2% year-over-year. Despite increased international operations (+9.6% vs 2Q24), this expense line was positively impacted by lower airport fees and handling costs.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Passenger services expenses</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> increased 9.6% versus the same period of 2024, explained by the 8.3% growth in capacity during the quarter and a more significant international mix in operations (+9.6% vs 2Q24).</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Aircraft maintenance expenses </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">totaled US$178 million, corresponding to a 11.3% increase versus 2Q24 related to an increased level of operation and cost escalation driven by supply chain issues.</font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> </font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Other operating expenses </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">increased 14.7% compared to 2Q24 and amounted to US$366 million. This variation was mainly driven by higher crew-related expenses associated with the increased level of operations.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Other gains and losses </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">totaled US$13 million in gains for the second quarter, primarily due to the impact related to early termination of aircraft under operating leases that consequently transitioned to finance leases, and partially offset by labor contingencies in Argentina.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="padding-left:4.5pt;text-align:justify"><font><br></font></div><div style="padding-left:4.5pt;text-align:justify"><font style="color:#1b0088;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%">Non-operating results</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Interest income </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">amounted to US$27 million in the quarter, with a slight decrease of US$4 million. The decline was explained by lower interest rates following the U.S. Federal Reserve's rate cuts, while the average cash balance remained at similar levels compared to the same period of last year. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Interest expense </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">decreased 18.0% versus 2Q24, to US$155 million during the quarter, mainly explained by the interest rate savings obtained from the liability management completed in October 2024.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Foreign exchange gains and losses </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">amounted to US$51 million in losses in the second quarter of 2025, driven by the appreciation of the Brazilian Real compared to March 31, 2025. This line reflects the net balance sheet effect of holding a strong U.S. Dollar-denominated asset position, larger than its liabilities, in its Brazilian affiliate. As such, when local currencies depreciate, the net value of these assets increases, resulting in a non-operational gain in the Income Statement. Conversely, currency appreciation leads to a loss. It is worth mentioning that this is a non-cash effect in the Income Statement.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Result of indexation units</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> amounted to US$0.9 million in the quarter, a decrease compared to the same period of 2024 mainly due</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> to lower inflation rates (CPI) compared to the same period of 2024, as well as a reduced hyperinflation adjustment linked to lower labor contingency expenses in Argentina.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:0.05pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:115%;padding-left:14.33pt">Net income attributable to the owners of the parent company</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> during the quarter amounted to US$242 million, an increase of 66.0%. Net income attributable to owners of the parent company serves as the basis for calculating dividend distributions.</font></div><div><font><br></font></div><div id="i906ad68acd6742bf897d538d56f82e4d_13"></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font style="background-color:#ffffff;color:#1b0088;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LIQUIDITY AND FINANCING</font></div><div style="margin-top:5pt;padding-left:5.6pt;text-align:justify;text-indent:5.6pt"><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">LATAM Airlines Group ended the period with cash and cash equivalents of US$2,069 million (+5.7% vs December 31, 2024). During the first half of the year, it generated US$1,338 million in adjusted operating cash flow and achieved a positive net cash generation of US$111 million, even after returning US$445 million to shareholders. Additionally, LATAM has US$1,575 million in available and fully undrawn revolving credit facilities (&#8220;RCF&#8221;). Liquidity as a percentage of revenues of last twelve months stood at 27.2%.  </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">LATAM has total gross debt of US$7.5 billion and net debt of US$5.4 billion. At the end of the period, LATAM's adjusted net leverage was 1.6x.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">During the quarter, on June 26th, LATAM group announced the successful refinancing of its remaining high-interest rate debt from 2022 through the issuance of US$800 million in senior secured notes in the international market, with a coupon of 7.625% and maturity in 2031. The proceeds were used to prepay US$700 million in high-cost notes (13.375%) due in 2029, thus reducing the interest rate by 570 bps. The settlement of the transaction was completed on July 7, 2025. As a result, the group extended its debt maturity profile. The next relevant financial maturities are now scheduled for 2030 and the total weighted average cost of debt was reduced by 94 bps. For illustrative purposes, the debt maturity table is presented on a pro forma basis including this transaction&#58;</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.067%"><tr><td style="width:1.0%"></td><td style="width:32.183%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.138%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.138%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.141%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Financial Debt Composition</font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">(Pro forma as of July 7)</font></div></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Nominal Value (million)</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Interest Rate</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Maturity</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2030 Senior Secured Notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">US$1,400</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">7.875%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2030</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2031 Senior Secured Notes</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">US$800</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">7.625%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2031</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Spare Engine Facility</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">US$275</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">SOFR 3M + 2.1%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2028</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">UF Bond</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">US$161</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">UF + 2.0%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2042</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Fleet Financial Debt</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">US$1,671</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">5.86%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Total Financial Debt</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">US$4,306</font></td><td colspan="3" style="border-left:1pt solid #ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">6.82%</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:700;line-height:100%">&#8212;</font></td></tr></table></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div id="i906ad68acd6742bf897d538d56f82e4d_16"></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font style="color:#1b0088;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">MARKET RISKS</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">LATAM&#8217;s fuel hedging policy has the main objective of protecting against medium-term liquidity risk from fuel price increases, while benefiting from fuel price reductions. Accordingly, LATAM hedges a portion of its estimated fuel consumption. Hedge positions per quarter for the next 12 months, as of June 30, 2025, are shown in the table below&#58;</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:100%"> </font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.095%"><tr><td style="width:1.0%"></td><td style="width:45.683%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.205%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Fuel hedging</font></div></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">3Q25</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">4Q25</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">1Q26</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2Q26</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Hedge positions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Estimated Fuel consumption hedged</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">54%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">47%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">18%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">15%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-right:8.45pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">On the other hand, LATAM&#8217;s foreign exchange risk mainly comes from operations in currencies other than its functional currency, the US dollar. The largest operational cash flow exposure comes from the concentration of businesses in Brazil by LATAM Airlines Brazil, which are mostly denominated in Brazilian real. At a lower concentration, LATAM is also exposed to other currencies like the Euro, British Pound, and several Latin American currencies. BRL cash flow hedge positions per quarter for the next months, as of June 30, 2025, are shown in the table below&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-right:8.45pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.095%"><tr><td style="width:1.0%"></td><td style="width:45.683%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.204%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.205%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">FX hedging (BRL)</font></div></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">3Q25</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">4Q25</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">1Q26</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2Q26</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Hedge positions</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Estimated cash flow mismatch hedged</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">59%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">18%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">0%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">0%</font></td></tr></table></div><div style="padding-right:8.45pt"><font><br></font></div><div style="padding-right:8.45pt"><font><br></font></div><div style="padding-right:8.45pt"><font><br></font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_19"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.994%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="padding-left:0.05pt;text-align:justify"><font><br></font></div><div style="padding-left:0.05pt;text-align:justify"><font style="background-color:#ffffff;color:#1b0088;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM FLEET PLAN</font></div><div style="margin-top:0.15pt"><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">LATAM group&#8217;s</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">fleet</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:115%"> </font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">consists of 281 Airbus narrow-body aircraft, 3 Airbus wide-body aircraft under short-term leases, 56 Boeing wide-body aircraft and 20 Boeing cargo freighters, totaling 360 aircraft. During the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">second</font><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%"> quarter, the group receive</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">d 12 aircraft, including 10 Airbus A320Neo, 1 A321Neo and 1 A330 via short-term lease. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">Consistent with the strategy, business development, and demand growth currently being experienced, medium-term opportunities for incremental growth have been identified in most markets where LATAM group affiliates operate. In this context, during the quarter, 11 additional A320 Neo family aircraft were secured for delivery in 2026, along with a decision to delay the progressive retirement of four of our A319 aircraft. Moreover, there may be potential opportunities for further growth over the next 2&#8211;3 years. In this context, LATAM group is analyzing the acquisition of additional aircraft from various manufacturers and lessors. This includes additions to its wide-body and narrow-body fleet, the latter including aircraft from the A320 family, as well as other smaller jets from manufacturers such as Airbus and Embraer. The primary focus of these additions will be to serve and grow passenger transportation within the region and cargo traffic in regional markets. As might be expected, the materialization of these options depends on several factors, including aircraft availability and the evolution of the markets in which the group operates. The group continues to maintain significant flexibility to adjust capacity as needed.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">As of the date of publication, LATAM group has fleet commitment agreements with Airbus and Boeing for new aircraft and additionally has signed several contracts with lessors to receive both narrow-body Airbus and wide-body aircraft in the coming years, as detailed below&#58;</font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:4.22pt;padding-right:4.22pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.110%"><tr><td style="width:1.0%"></td><td style="width:38.043%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.114%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.114%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.114%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.115%"></td><td style="width:0.1%"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="background-color:#9452ff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Fleet Plan</font></td><td colspan="3" rowspan="2" style="background-color:#9452FF;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:100%">2Q25</font></td><td colspan="9" style="background-color:#9452ff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">&#160;Projected as of  the end of the year</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#9452ff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#9452ff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2026</font></td><td colspan="3" style="background-color:#9452ff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">2027</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Passenger Aircraft</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Narrow Body</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Airbus Ceo Family</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">224</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">223</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">221</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">204</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Airbus Neo Family</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">57</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">68</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">93</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">108</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Total NB</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">281</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">291</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">314</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">312</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Wide Body</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Boeing 787</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">37</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">38</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">41</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">41</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Other</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">22</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">22</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">19</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">19</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Total WB</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">59</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">60</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">60</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">60</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">&#160;TOTAL</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">340</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">351</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">374</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">372</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">Cargo Aircraft</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">Boeing 767-300F</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">20</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">20</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">19</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:100%">19</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">&#160;TOTAL</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">20</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">20</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">19</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">19</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">TOTAL FLEET (end of the period)</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">360</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">371</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">393</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">391</font></td></tr><tr style="height:9pt"><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">AVERAGE FLEET</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">355</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">359</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">384</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:100%">394</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr></table></div><div style="padding-left:4.22pt;padding-right:4.22pt;text-align:center"><font><br></font></div><div style="padding-left:7.02pt;padding-right:7.02pt;text-align:center"><font><br></font></div><div style="padding-left:7.02pt;padding-right:7.02pt;text-align:center"><font><br></font></div><div style="padding-left:4.22pt;padding-right:4.22pt;text-align:center"><font><br></font></div><div style="padding-left:4.22pt;padding-right:4.22pt;text-align:center"><font><br></font></div><div style="padding-right:8.45pt;text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:112%">Note</font><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">&#58; This fleet plan considers LATAM group's best estimates for committed arrivals, current decisions regarding aircraft sales, retirements and lease extensions. In the Financial Statements, Note 13 describes the aircraft that are currently held for sale.</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_22"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="padding-left:0.05pt;text-align:justify"><font style="color:#1b0088;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2025 GUIDANCE</font></div><div style="text-align:justify"><font><br></font></div><div><font style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">Updated guidance for the full year 2025 issued on&#160;&#160;&#160;&#160;July 28,&#160;&#160;&#160;&#160;2025, as detailed below&#58;&#160;&#160;&#160;&#160;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:7.02pt;padding-right:7.02pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.371%"><tr><td style="width:1.0%"></td><td style="width:18.782%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:50.740%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.969%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.971%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Indicator</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Guidance</font></td><td colspan="6" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2025E  </font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(April 28th)</font></div></td><td colspan="6" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2025E Updated (July 28th)</font></div></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Operating Indicators</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Total ASK Growth vs 2024</font></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.5&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.5%</font></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">8.5&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.5%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Domestic Brazil ASK Growth vs 2024</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">7.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.0%</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10.5%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Domestic Spanish Speaking Countries ASK Growth vs 2024</font></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.0&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.0%</font></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1.0&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.0%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">International ASK Growth vs 2024</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">9.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11.5%</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">10.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">11.0%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Total ATK Growth vs 2024</font></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1.0&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.0%</font></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.5&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.5%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Financial Indicators</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Revenues (US$ billion)</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">13.8 - </font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">14.2</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">14.0 -</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">14.2</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Adjusted CASK ex fuel</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">1 </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">(US$ cents)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.55 - </font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #FFFFFF;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.75</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.65 -</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.75</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Adjusted Passenger CASK ex fuel</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> (US$ cents)</font></div></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.15 - </font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.35</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.25 -</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">4.35</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Adjusted Operating Income</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> (US$ billion)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">1.80 -</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.05</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.00 -</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">2.15</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Adjusted Operating Margin</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">13.0&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15.0%</font></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">14.0&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">15.0%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Adjusted EBITDAR</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">2</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> (US$ billion)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.40 - </font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.75</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.65 -</font></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">3.85</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Adjusted EBITDAR Margin</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">2</font></div></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">24.5&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">26.5%</font></td><td colspan="2" style="background-color:#eeeeee;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">26.0&#160;</font></td><td style="background-color:#eeeeee;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">%&#160;-&#160;</font></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">27.0%</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Adjusted Levered Free Cash Flow</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">3</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> (US$ billion)</font></div></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#62; 1.2</font></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#62; 1.3</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Liquidity</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">4</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> (US$ billion)</font></div></td><td colspan="6" style="background-color:#eeeeee;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#62; 4.1</font></td><td colspan="6" style="background-color:#eeeeee;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#62; 4.0</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Total Net Debt</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">5</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> (US$ billion)</font></div></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#60; 5.2</font></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#60; 5.4</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Total Net Debt&#47;Adjusted EBITDAR (x)</font></td><td colspan="6" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8804; 1.5x</font></div></td><td colspan="6" style="background-color:#eeeeee;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">&#8804; 1.5x</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:700;line-height:100%">Assumptions</font></td><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Average exchange rate (BRL&#47;USD)</font></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5.9</font></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">5.7</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#eeeeee;padding:0 1pt"></td><td colspan="3" style="background-color:#eeeeee;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">Jet fuel price</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.17pt;font-weight:400;line-height:100%;position:relative;top:-3.32pt;vertical-align:baseline">6</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%"> (US$&#47;bbl) </font></div></td><td colspan="6" style="background-color:#eeeeee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">90</font></td><td colspan="6" style="background-color:#eeeeee;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9.5pt;font-weight:400;line-height:100%">90</font></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:3pt;padding-right:8.45pt;text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:132%">1) Adjusted CASK ex-fuel includes adjustments to add back the effect of other gains and losses and employee compensations associated with the Corporate Incentive Plan. Adjusted Passenger CASK ex fuel is further adjusted to exclude cargo costs associated with belly and freighter operations.</font></div><div style="margin-top:3pt;padding-right:8.45pt;text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:132%">2) Adjusted Operating Income excludes other gains and losses and employee compensations associated with the Corporate Incentive Plan. Adjusted EBITDAR is further adjusted to exclude foreign exchange gains and results of indexation units</font></div><div style="margin-top:3pt;padding-right:8.45pt;text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:132%">3) Adjusted Levered Free Cash Flow calculated as the sum of net cash (outflow) inflow from operating and investing activities, adding payments from lease liabilities (amortization and interest) and financing predelivery payments, excluding amounts raised from the sale of property, plant and equipment, adding aircraft and non-aircraft financing interest.</font></div><div style="margin-top:3pt;padding-right:8.45pt;text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:132%">4) Liquidity is defined as Cash and Cash Equivalents and undrawn, committed revolving credit facilities. The updated guidance published on July 28, 2025, assumes the execution of the second share repurchase program announced on June 27, 2025 (approximately US$290 million, equivalent to 2.4% of outstanding shares at 19 CLP per share). Subject to the final execution of the second share repurchase, this figure could change.</font></div><div style="margin-top:3pt;padding-right:8.45pt;text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:132%">5) Total Net Debt includes operating lease liabilities, financial leases and other financial debt, and net of Cash and Cash Equivalents. The updated guidance published on  July 28, 2025, assumes the execution of the second share repurchase program announced on June 27, 2025 (approximately US$290 million, equivalent to 2.4% of outstanding shares at 19 CLP per share). Subject to the final execution of the second share repurchase, this figure could change.</font></div><div style="margin-top:3pt;padding-right:8.45pt;text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:132%">6) The jet fuel price projection does not include into-wing cost.</font></div><div style="margin-top:3pt;padding-right:8.45pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:7pt;font-style:italic;font-weight:400;line-height:100%">Note on forward-looking assumptions, outlooks and expectations are not facts but rather a good faith estimate of reality based on selected information believed to be reasonable. However, reality may differ from assumptions, outlooks and expectations. This report also contains forward-looking statements. Such statements may contain words such as &#8220;could,&#8221; &#8220;will,&#8221; &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;project,&#8221; &#8220;believe&#8221; or other similar expressions. Forward-looking statements are statements that are not historical facts, including statements about our beliefs and expectations. These statements are based on LATAM's current plans, estimates and projections and, therefore, you should not place undue reliance on such statements or the estimates arising from them. Forward-looking statements involve known and unknown inherent risks, uncertainties and other factors, many of which are beyond LATAM's control and are difficult to predict. We caution you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. The financial information contained herein does not constitute or replace in any way the submission of the corresponding financial statements of the Commission for the Financial Market (CMF) and the market, in terms of their content requirements, applicable procedures and deadlines of submission corresponding to the CMF in accordance with current regulations. These factors and uncertainties include in particular those described in documents we have filed with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update any of them, whether as a result of new information, future events or any other factor. Our results may not be indicative of future performance, which remains subject to a number of uncertainties, including the risks disclosed in our annual report on Form 20-F, which was filed on March 13, 2025,  and especially the risks and uncertainties associated with global developments, including the conflicts in the Middle East, the  more recent country-specific tariffs imposed by the U.S. Commerce Department for goods imported in the United States and the retaliatory measures imposed in response by certain countries, and its impact on the currency exchanges, the worldwide supply chain and the availability of inventory and the prices of goods in general in commerce. In addition, as disclosed in our annual report on Form 20-F, our business is seasonal and our passenger revenues are generally higher in the first and fourth quarters of each year, during the southern hemisphere&#8217;s spring and summer. Finally, demand for air travel and cargo services is influenced by a number of factors beyond our control, including global, regional and national political and socioeconomic developments as well as changes in our competitive landscape, all of which could have a material impact on our ability to achieve the guidance disclosed herein.</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:justify"><font><br></font></div><div id="i906ad68acd6742bf897d538d56f82e4d_25"></div><div style="padding-left:0.05pt;text-align:justify"><font style="color:#1b0088;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">FINANCIAL STATEMENTS PUBLICATION AND CONFERENCE CALL</font></div><div style="padding-left:7.08pt;padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:115%">LATAM Airlines Group S.A. filed its financial statements for the period ended June 30, 2025 with the Comisi&#243;n para el Mercado Financiero (CMF) of Chile on July 28, 2025. These financial statements are available in Spanish and English at http&#58;&#47;&#47;www.latamairlinesgroup.net. For further inquiries, please contact the Investor Relations team at InvestorRelations&#64;latam.com.</font></div><div style="padding-left:7.08pt;padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">The Company will hold a conference call to discuss the second quarter 2025 financial results on July 29, 2025, at 9&#58;00 am ET &#47; 9&#58;00 am Santiago.</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:112%">Webcast Link&#58; </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%">Click here</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:700;line-height:112%">Participant Call Link&#58;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10.5pt;font-weight:400;line-height:112%"> Click here</font></div><div><font><br></font></div><div style="padding-left:5.6pt;padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="padding-right:8.8pt;text-align:justify"><font><br></font></div><div><font style="color:#666666;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:112%;text-decoration:underline">About LATAM Airlines Group S.A.&#58;</font></div><div><font><br></font></div><div style="margin-top:0.05pt;text-align:justify"><font style="color:#666666;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">LATAM Airlines Group S.A. and its affiliates are the principal group of airlines in Latin America present in five domestic markets in the region&#58; Brazil, Chile, Colombia, Ecuador and Peru, in addition to international operations within Latin America and to &#47; from Europe, the United States, Oceania, Africa and the Caribbean.</font></div><div style="padding-left:7.08pt"><font><br></font></div><div style="text-align:justify"><font style="color:#666666;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">The group has a fleet of Boeing 767, 777, 787, Airbus A321, A321Neo, A320, A320Neo, and A319 aircraft. Additionally, the Airbus 330, operated under short-term leases, is also part of the current operations.</font></div><div style="padding-left:7.08pt"><font><br></font></div><div style="margin-top:0.05pt;text-align:justify"><font style="color:#666666;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">LATAM Cargo Chile, LATAM Cargo Colombia and LATAM Cargo Brazil are the LATAM group cargo subsidiaries. In addition to having access to the bellies of the passenger affiliates's aircraft, they have a fleet of 20 freighters. They operate on the LATAM group network as well as international routes that are exclusively operated by freighters. They offer modern infrastructure, a wide variety of services and protection options to meet all customer needs.</font></div><div style="padding-left:7.08pt"><font><br></font></div><div style="text-align:justify"><font style="color:#666666;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">For LATAM press inquiries, please write to comunicaciones.externas&#64;latam.com. Additional financial information is available at </font><font style="color:#666666;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%;text-decoration:underline">www.latamairlinesgroup.net. </font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_28"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Consolidated Operational Statistics</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.385%"><tr><td style="width:1.0%"></td><td style="width:34.905%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.395%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.820%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.395%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.400%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="9" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">For the three month period ended June 30</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">For the six month period ended June 30</font></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Change</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">% Change</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">System</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costs per ASK (US$ cents)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.0</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5.1%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.5</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7.2%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted Costs per ASK (US$ cents)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.0</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4.3%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5.9%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Costs per ASK ex fuel (US$ cents)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.8</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.9%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.8</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3.2%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted Costs per ASK ex fuel  (US$ cents)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.8</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.1%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.2%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted Passenger CASK ex fuel (US$ cents)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.1</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.8%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.8%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel Gallons Consumed (millions)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">347</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">326</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.5%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">696</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">657</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.0%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel Gallons Consumed per 1,000 ASKs</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.5</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.7%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.5</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.7%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel Price (with hedge) (US$ per gallon)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.55</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.04</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(16.1%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.67</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.07</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13.0%)</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fuel Price (without hedge) (US$ per gallon)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.50</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.05</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18.0%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.65</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.10</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14.5%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Average Trip Length (km)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.656</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.622</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.1%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.648</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.613</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.2%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Number of Employees (average)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,430</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36,922</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.8%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,129</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36,556</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.0%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Number of Employees (end of the period)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,657</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,124</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.8%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,657</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,124</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.8%</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Passenger </font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ASKs  (millions)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40,863</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,737</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.3%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82,120</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">76,198</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.8%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RPKs  (millions)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,103</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,028</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.9%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">68,486</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">63,486</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.9%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Passengers Transported (thousands)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,592</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19,135</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.6%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41,561</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,370</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.6%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Load Factor (based on ASKs) %</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83.5%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82.2%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.2pp</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83.4%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">83.3%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.1pp</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Yield based on RPKs (US$ cents)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1.3%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.7</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.8%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues per ASK (US$ cents)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.9</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.2%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.0</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.7%)</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cargo</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">ATKs (millions)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,053</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,975</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.9%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,068</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,906</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.2%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">RTKs (millions)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,108</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,048</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.7%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,177</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,060</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.6%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Tons Transported (thousands)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">256</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">247</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.4%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">499</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">482</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.7%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Load Factor (based on ATKs) %</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54.0%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53.1%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.9pp</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53.5%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">52.8%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.8pp</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Yield based on RTKs (US$ cents)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37.8</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.2%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37.9</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.1%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues per ATK (US$ cents)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20.4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.0%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20.3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19.2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.6%</font></td></tr></table></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Note&#58;</font><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> Adjusted figures include adjustments to add back the effect of other gains and losses, variable Aircraft Rental expenses (non-cash P&#38;L effect) and employee compensations associated with the Corporate Incentive Plan. Adjusted Passenger CASK ex fuel also excludes cargo costs associated with belly and freighter operations.</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_31"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Consolidated Financial Results for the Second Quarter 2025 </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%">(in thousands of US Dollars)</font></div><div style="padding-left:0.05pt"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.661%"><tr><td style="width:1.0%"></td><td style="width:48.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.033%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="15" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">For the three month period ended June 30</font></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustments</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025 Adjusted</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024 Adjusted</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">% Change</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">REVENUE</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Passenger</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,824,314</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,824,314</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,603,275</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.5%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cargo</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">418,641</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">418,641</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">380,006</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.2%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other Income</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36,087</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36,087</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">46,637</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22.6%)</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL OPERATING REVENUE</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,279,042</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,279,042</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,029,918</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8.2%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EXPENSES</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wages and Benefits</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(450,761)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,901</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(446,860)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(403,804)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.7%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Aircraft Fuel</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(886,803)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(886,803)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(992,453)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10.6%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commissions to Agents</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(56,904)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(56,904)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(54,050)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.3%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and Amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(427,252)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(427,252)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(344,789)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">23.9%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other Rental and Landing Fees</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(408,363)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(408,363)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(403,522)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.2%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Passenger Services</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(85,634)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(85,634)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(78,168)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.6%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Aircraft Maintenance</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(177,923)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(177,923)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(159,913)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.3%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other Operating Expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(366,497)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(366,497)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(319,423)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14.7%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:114%">Other gains&#47;(losses)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,679</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(12,679)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL OPERATING EXPENSES</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,847,458)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8,778)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,856,236)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(2,756,122)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3.6%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OPERATING INCOME&#47;(LOSS)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">431,584</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(8,778)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">422,806</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">273,796</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">54.4%</font></td></tr><tr><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Operating Margin</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.2%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.3pp)</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12.9%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9.0%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.9pp</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest Income</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,975</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">26,975</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,080</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13.2%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest Expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(155,324)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(155,324)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(189,445)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18.0%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange gains</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(50,903)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">50,903</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result of indexation units</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">949</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(949)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">INCOME&#47;(LOSS) BEFORE TAXES</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">253,281</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">41,176</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">294,457</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">115,431</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">155.1%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income Taxes</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,480)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,480)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,885)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.5%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">NET INCOME&#47;(LOSS)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">241,801</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">41,176</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">282,977</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104,546</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">170.7%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Owners of the parent company</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">241,569</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41,176</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">282,745</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">104,803</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">169.8%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-controlling interest</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">232</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">232</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(257)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">NET INCOME&#47;(LOSS) attributable to the owners of the parent company</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">241,569</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">41,176</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">282,745</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">104,803</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">169.8%</font></td></tr><tr><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Net Margin attributable to the owners of the parent company</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7.4%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.3pp</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.6%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.5%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.2pp</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effective Tax Rate</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4.5%)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.6pp</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3.9%)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9.4%)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.5pp</font></td></tr><tr><td colspan="18" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-top:5pt;padding-left:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Financial Metrics for the Second Quarter 2025</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%"> (in thousands of US Dollars)</font></div></td></tr><tr><td colspan="3" style="background-color:#1b0087;padding:0 1pt"></td><td colspan="15" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">For the three month period ended June 30</font></td></tr><tr><td colspan="3" style="background-color:#1b0087;padding:0 1pt"></td><td colspan="6" style="background-color:#1b0087;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="6" style="background-color:#1b0087;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0087;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change (%)</font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDAR</font></div></td><td colspan="6" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">850,058</font></td><td colspan="6" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">618,585</font></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37.4%</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Adjusted EBITDAR Margin</font></td><td colspan="6" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25.9%</font></td><td colspan="6" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20.4%</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.5pp</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:103%">Note</font><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:103%">&#58; Adjustments include adjustments to add back the effect of other gains and losses, variable Aircraft Rental expenses (non-cash P&#38;L effect), employee compensations associated with the Corporate Incentive Plan, foreign exchange gains and results of indexation units.</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_34"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Consolidated Financial Results for the six-month period ended June </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%">(in thousands of US Dollars)</font></div><div style="padding-left:0.05pt"><font><br></font></div><div style="padding-left:0.02pt;padding-right:0.02pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.661%"><tr><td style="width:1.0%"></td><td style="width:48.239%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.032%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.033%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="15" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">For the six month period ended June 30</font></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjustments</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025 Adjusted</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024 Adjusted</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Var. %</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">REVENUE</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Passenger</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,767,202</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,767,202</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,501,117</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.8%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cargo</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824,231</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">824,231</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">749,363</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.0%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other Income</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98,210</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">98,210</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100,771</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.5%)</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL OPERATING REVENUE</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,689,643</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,689,643</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,351,251</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">5.3%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">EXPENSES</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Wages and Benefits</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(901,739)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,740</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(876,999)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(808,845)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Aircraft Fuel</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,860,766)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,860,766)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,016,826)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7.7%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Commissions to Agents</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(110,555)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(110,555)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(115,782)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4.5%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and Amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(816,154)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(816,154)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(677,611)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20.4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other Rental and Landing Fees</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(791,460)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(791,460)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(791,181)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Passenger Services</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(169,985)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(169,985)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154,299)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.2%</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Aircraft Maintenance</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(363,986)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(363,986)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(354,144)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.8%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other Operating Expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(703,703)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(703,703)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(696,062)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1.1%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other gains&#47;(losses)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18,583</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(18,583)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TOTAL OPERATING EXPENSES</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,699,765)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,157</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,693,608)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(5,614,750)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1.4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">OPERATING INCOME&#47;(LOSS)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">989,878</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,157</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">996,035</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">736,501</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">35.2%</font></td></tr><tr><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Operating Margin</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14.8%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.1pp</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14.9%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.6%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.3pp</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest Income</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,033</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">60,033</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">62,530</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4.0%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest Expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(307,049)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(307,049)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(380,830)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19.4%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange gains</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(126,048)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">126,048</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Result of indexation units</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">710</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(710)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">INCOME&#47;(LOSS) BEFORE TAXES</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">617,524</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">131,495</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">749,019</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">418,201</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">79.1%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income Taxes</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,086)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,086)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(26,028)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(26.7%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">NET INCOME&#47;(LOSS)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">598,438</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">131,495</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">729,933</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">392,173</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">86.1%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Attributable to&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Owners of the parent company</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">596,857</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">131,495</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">728,352</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">390,754</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">86.4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-controlling interest</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,581</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,581</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,419</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11.4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">NET INCOME&#47;(LOSS) attributable to the owners of the parent company</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">596,857</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">131,495</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">728,352</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">390,754</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">86.4%</font></td></tr><tr><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Net Margin attributable to the owners of the parent company</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">8.9%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2.0pp</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10.9%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6.2%</font></td><td colspan="3" style="border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.7pp</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effective Tax Rate</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3.1%)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.5pp</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2.5%)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6.2%)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3.7pp</font></td></tr><tr><td colspan="18" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-top:5pt;padding-left:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Financial Metrics for the six-month period ended June</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%"> (in thousands of US Dollars)</font></div></td></tr><tr><td colspan="3" style="background-color:#1b0087;padding:0 1pt"></td><td colspan="15" style="background-color:#1b0087;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">For the six month period ended June 30</font></td></tr><tr><td colspan="3" style="background-color:#1b0087;padding:0 1pt"></td><td colspan="6" style="background-color:#1b0087;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="6" style="background-color:#1b0087;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0087;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Change (%)</font></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted EBITDAR</font></div></td><td colspan="6" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,812,189</font></td><td colspan="6" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,414,112</font></td><td colspan="3" style="border-top:0.25pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28.2%</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:100%">Adjusted EBITDAR Margin</font></td><td colspan="6" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27.1%</font></td><td colspan="6" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">22.3%</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.8pp</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Note&#58;</font><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> Adjustments include adjustments to add back the effect of other gains and losses, variable Aircraft Rental expenses (non-cash P&#38;L effect), employee compensations associated with the Corporate Incentive Plan, foreign exchange gains and results of indexation units.</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_37"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Consolidated Balance Sheet</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%"> (in thousands of US Dollars)</font></div><div style="margin-top:5pt"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.516%"><tr><td style="width:1.0%"></td><td style="width:64.194%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.252%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As of June 30</font></div></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As of December 31</font></div></td></tr><tr><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#e5dfec;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Assets</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash and cash equivalents</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,068,558</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,957,788</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">84,080</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">67,295</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">235,145</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">203,661</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade and other accounts receivable</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,351,297</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,163,707</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts receivable from related entities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">25</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Inventories</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">459,179</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">438,530</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current tax assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">88,868</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">40,275</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total current assets other than non-current assets (or disposal groups) classified as held for sale</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,287,168</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,871,281</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-current assets (or disposal groups) classified as held for sale</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,338</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,138</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total current assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">4,297,506</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,900,419</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">59,049</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">53,772</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-financial assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">96,747</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89,416</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts receivable</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,792</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,342</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Intangible assets other than goodwill</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,104,118</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,000,170</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Property, plant and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,028,746</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,186,697</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,952</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">10,549</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total non-current assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">12,307,404</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">11,352,946</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total assets</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,604,910</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,253,365</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#e5dfec;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Liabilities and shareholders' equity</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">750,839</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">635,213</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Trade and other accounts payables</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,720,039</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,133,572</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable to related entities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,408</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12,875</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other provisions</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,136</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,221</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current tax liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,607</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,281</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-financial liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,697,881</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,488,680</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total current liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">7,215,910</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">6,290,842</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other financial liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,771,424</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,515,238</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Accounts payable</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">464,499</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">491,762</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other provisions</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">686,771</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">623,846</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deferred tax liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">339,761</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">312,677</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Employee benefits</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">174,701</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">167,427</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other non-financial liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">47,689</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">140,244</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total non-current liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,484,845</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">8,251,194</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total liabilities</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,700,755</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">14,542,036</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Share capital</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,003,534</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,003,534</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Retained earnings&#47;(losses)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,566,091</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,148,291</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Treasury Shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(152,151)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other equity</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other reserves</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,502,705)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(5,428,597)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Parent&#8217;s ownership interest</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">914,808</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">723,267</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-controlling interest</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,653)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,938)</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total equity</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">904,155</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">711,329</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:3pt double #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Total liabilities and equity</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">16,604,910</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:3pt double #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,253,365</font></td></tr></table></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_40"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Consolidated Statement of Cash Flow &#8211; Direct Method </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%">(in thousands of US Dollars)</font></div><div style="padding-left:0.05pt"><font><br></font></div><div style="padding-left:0.05pt"><font><br></font></div><div style="padding-left:0.05pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:67.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.552%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.553%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ed1650;padding:0 1pt"></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As of June 30,</font></div></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">As of June 30,</font></div></td></tr><tr><td colspan="3" style="background-color:#ed1650;padding:0 1pt"></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash flows from operating activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash collection from operating activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proceeds from sales of goods and services</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,151,738</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,817,279</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other cash receipts from operating activities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">88,864</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">125,484</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Payments for operating activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to suppliers for the supply goods and services</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,514,461)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,854,611)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to and on behalf of employees</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(895,660)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(653,235)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other payments for operating activities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(211,464)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(159,655)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income taxes (paid)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37,724)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,372)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other cash inflows (outflows)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(40,322)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">108,947</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net cash (outflow) inflow from operating activities</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,540,971</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,354,837</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash flows from investing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts raised from sale of property, plant and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,031</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,740</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchases of property, plant and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(934,050)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(427,762)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Purchases of intangible assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47,936)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35,040)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest received</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,762</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58,016</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other cash inflows (outflows)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,715</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">34,469</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net cash (outflow) inflow from investing activities</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(870,478)</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(332,577)</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Cash flows inflow (out flow) from financing activities</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments to acquire or redeem the entity's shares</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(151,997)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Amounts raised from long-term loans</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">445,020</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Loans repayments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(124,965)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(143,323)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Payments of lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(202,369)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(148,118)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Dividends paid</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(293,396)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(174,838)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest paid</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(294,430)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(337,531)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other cash (outflows) inflows</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,170</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">719</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net cash inflow (outflow) from financing activities</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(620,967)</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(803,091)</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net (decrease) increase in cash and cash equivalents before effect of exchanges rate change</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">49,526</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">219,169</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Effects of variation in the exchange rate on cash and cash equivalents</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61,244</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(80,571)</font></td></tr><tr><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net (decrease) increase in cash and cash equivalents</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">110,770</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">138,598</font></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,957,788</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,714,761</font></td></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,068,558</font></td><td colspan="3" style="background-color:#e5dfec;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,853,359</font></td></tr></table></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_43"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:105%">Adjusted Free Cash Flow </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:105%">(in thousands of US Dollars)</font></div><div style="padding-left:0.05pt"><font><br></font></div><div style="margin-top:5pt;padding-left:0.02pt;padding-right:0.02pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.329%"><tr><td style="width:1.0%"></td><td style="width:47.380%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.362%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.362%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.471%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.362%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.363%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr style="height:20pt"><td colspan="3" rowspan="2" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Adjusted Free Cash Flow</font></td><td colspan="6" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">For the three month period ended June 30,</font></td><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="6" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">For the six month period ended June 30,</font></div></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">Adjusted EBITDAR</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">850,058</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">618,585</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,812,189</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,414,112</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Changes in working capital</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">82,960</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">349,633</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(146,529)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">103,014</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Cash taxes</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15,731)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6,728)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(37,724)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(29,372)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(189,270)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(126,945)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(345,798)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(273,992)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest Income</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,734</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">20,599</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,762</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">58,016</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adj. Operating cash flow</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">752,749</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">855,144</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,337,900</font></td><td colspan="3" style="background-color:#ffffff;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,271,778</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Maintenance CapEx</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(181,981)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(131,470)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(310,050)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(241,956)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">CapEx for growth &#38; Fleet CapEx Net of Financing</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(49,182)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(272,436)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(285,166)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(324,049)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adj. Investment cash flow *</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(231,163)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(403,906)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(595,216)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(566,005)</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adj. Unlevered FCF</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">521,586</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">451,238</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">742,684</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">705,773</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on financial debt</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(109,591)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(126,424)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117,497)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(177,388)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest on finance leases</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17,149)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17,748)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33,504)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(36,514)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adj. Levered FCF</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">394,846</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">307,066</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">591,683</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">491,871</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Finance lease amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(57,742)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(81,451)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(124,965)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130,051)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Non-Fleet Financial debt net amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,522)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(13,272)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Shareholder Distribution</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(445,089)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(174,549)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(445,393)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(174,838)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other (Incl. Asset Sale, Fx and others)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30,244</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(38,558)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">89,445</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35,112)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Adj. Financing &#38; Others cash flow</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(599,327)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(449,252)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(631,914)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(567,175)</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Change in cash</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(77,741)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,986</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">110,770</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">138,598</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,146,299</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,851,373</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,957,788</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,714,761</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">CASH AND CASH EQUIVALENTS AT END OF THE PERIOD</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,068,558</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,853,359</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2,068,558</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">1,853,359</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Fleet Cash Cost</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(254,080)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(220,977)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(484,081)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(429,445)</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:0.05pt"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">*Adjusted Investment cash flow is equivalent to total CapEx net of financing. A reconciliation table can be found in page 18.</font></div><div><font><br></font></div><div style="margin-top:5pt"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:105%">Notes&#58; </font></div><div style="padding-left:0.05pt"><font><br></font></div><div><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1) Adjusted EBITDAR  includes adjustments to add back the effect of other gains and losses, variable Aircraft Rental expenses (non-cash P&#38;L effect), employee compensations associated with the Corporate Incentive Plan, foreign exchange gains and results of indexation units.</font></div><div><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2) Operating lease payments include variable Aircraft Rentals (Pay by the Hour &#8220;PBH&#8221;) and Operational Leases under IFRS 16 including amortization and interest (both fleet and non-fleet).</font></div><div style="text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3) Maintenance CapEx primarily includes engine shop visits, aircraft c-checks and restocking of parts for existing operation, as well as CapEx associated with fleet projects that do not contribute additional capacity to the group's operations or add new features to the existing offered product.</font></div><div style="text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">4) Growth &#38; Fleet CapEx (net of financing) includes CapEx associated with additional spare parts and engines, engine shop visits, aircraft c-checks and restocking of parts for additional operation, PDPs, fleet projects that contribute additional capacity or new features to the existing offered product and certain other strategic projects that add value, and fleet arrivals net of their financing.</font></div><div style="text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5) Fleet Cash cost includes Finance lease amortization, interest on finance leases and operating lease payments (Excluding Non-fleet lease liabilities). Calculation can be found in page 18.</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_46"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A. </font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Consolidated Balance Sheet Indicators</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%"> (in thousands of US Dollars)</font></div><div style="padding-left:0.05pt"><font><br></font></div><div style="padding-left:0.05pt"><font><br></font></div><div style="padding-left:0.05pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:67.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.552%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.553%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ed1650;padding:0 1pt"></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">As of June 30,</font></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">As of December 31,</font></td></tr><tr><td colspan="3" style="background-color:#ed1650;padding:0 1pt"></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2024</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">16,604,910</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">15,253,365</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Liabilities</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">15,700,755</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,542,036</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Equity*</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">904,155</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">711,329</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Liabilities and Shareholders equity</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">16,604,910</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">15,253,365</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fleet lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,116,456</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,174,760</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fleet financial debt</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,670,712</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,188,771</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Fleet Debt</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,787,168</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,363,531</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total Non-Fleet Debt (includes non-fleet lease liabilities and non-fleet financial debt)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,731,073</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,786,920</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Gross Debt</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">7,518,241</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">7,150,451</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash, cash equivalents and liquid investments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,068,558)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,957,788)</font></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Net Debt </font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,449,683</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,192,663</font></td></tr></table></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:105%">  </font></div><div><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">*Includes non-controlling interest.</font></div><div><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">**Excluding associated guarantees.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:105%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Main Financial Ratios</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:67.595%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.552%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.553%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ed1650;padding:0 1pt"></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">As of June 30,</font></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">As of December 31,</font></td></tr><tr><td colspan="3" style="background-color:#ed1650;padding:0 1pt"></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#ed1650;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2024</font></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash, cash equivalents and liquid investments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,068,558</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,957,788</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revolving Credit Facilities (RCF)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,575,000</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,575,000</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Liquidity  (US$ thousands)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,643,558</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,532,788</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Liquidity as % of LTM revenues</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27.2%</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27.1%</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gross Debt (US$ thousands)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,518,241</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,150,451</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gross Debt &#47; Adjusted EBITDAR (LTM)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2.1x</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2.3x</font></td></tr><tr style="height:15pt"><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Debt (US$ thousands)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,449,683</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,192,663</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net Debt &#47; Adjusted EBITDAR (LTM)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.6x</font></td><td colspan="3" style="border-bottom:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.7x</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="padding-left:36pt;padding-right:36pt;text-align:center;text-indent:-72pt"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Note&#58;</font><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> Adjusted EBITDAR (LTM) refers to Adjusted EBITDAR (Last Twelve Months) (US$ thousands). For the ratios as of June 30, 2025, and December 31, 2024, it is calculated using the last twelve months as o</font><font style="background-color:#ffffff;color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">f June 30, 2025</font><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> (US$3,505,958)</font><font style="background-color:#ffffff;color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> and the full twelve months in 2024 (US$3,107,878).</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">15</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_52"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:105%">Consolidated Fleet</font></div><div style="text-align:justify"><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.530%"><tr><td style="width:1.0%"></td><td style="width:37.764%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.278%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.280%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#9452ff;padding:0 1pt"></td><td colspan="9" style="background-color:#9452ff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">As of June 30, 2025</font></td></tr><tr><td colspan="3" style="background-color:#9452ff;padding:0 1pt"></td><td colspan="3" style="background-color:#9452ff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Aircraft on Property, Plant &#38; Equipment</font></td><td colspan="3" style="background-color:#9452ff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Aircraft on Right of Use under IFRS16</font></td><td colspan="3" style="background-color:#9452ff;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Passenger Aircraft</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Boeing 767-300ER</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Boeing 777-300ER</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Boeing 787-8</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">4</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Boeing 787-9</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Airbus A319-100</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">11</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">29</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">40</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Airbus A320-200</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">88</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">47</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">135</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Airbus A320-Neo</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Airbus A321-200</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">32</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Airbus A321-Neo</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">15</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;TOTAL</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">165</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">172</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">337</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Short-term leases</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Airbus A330-200</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TOTAL</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">3</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Cargo Aircraft</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Boeing 767-300F</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">19</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%">20</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">&#160;TOTAL</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">19</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">1</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">20</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">TOTAL FLEET</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">184</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">176</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:700;line-height:100%">360</font></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:0.5pt solid #000;border-top:1pt solid #000;padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Note&#58;</font><font style="color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> This table includes 1 Boeing 767-300F that was reclassified from Property, Plant and Equipment to Assets Held for Sale.</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">16</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><div id="i906ad68acd6742bf897d538d56f82e4d_55"></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-top:5pt"><font><br></font></div><div style="padding-left:0.05pt"><font style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:100%">LATAM Airlines Group S.A.</font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:109%">Reconciliation of Reported Amounts to Non-GAAP Items </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:109%">(in thousands of US Dollars)</font></div><div style="padding-left:0.05pt"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">LATAM Airlines Group S.A. (&#34;LATAM&#34; or &#34;the Company&#34;) prepares its financial statements under &#8220;International Financial Reporting Standards&#8221; (&#8220;IFRS&#8221;) as issued by the IASB, however, for ease of presentation and comparison, the Income Statement in this report is presented in an Adapted by Nature Format. On some occasions, adjustments to these Income Statement figures are made for Special Items. These adjustments to include or exclude special items allows management an additional tool to understand and analyze its core operating performance and allow for more meaningful comparison in the industry. Therefore, LATAM believes these non-GAAP financial measures, derived from the consolidated financial statements but not presented in accordance with IFRS, may provide useful information to investors and others. In this table, you can find a reconciliation of the IFRS and the Adapted by Nature Format as LATAM reports its Income Statement in this earnings release for ease of comparison and further disclosure, as well as the adjustments made for Special Items.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">These non-GAAP items may not be comparable to similarly titled non-GAAP items of other companies and should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to GAAP results. The tables below show these reconciliations&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:33.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.814%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.629%"></td><td style="width:0.1%"></td></tr><tr style="height:12pt"><td colspan="3" rowspan="2" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="9" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">For the three month period ended June 30,</font></div></td><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="9" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">For the six month period ended June 30,</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">% Change</font></td><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">% Change</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Cost of sales</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,366,330)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,346,447)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">0.8%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4,766,212)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4,740,306)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">0.5%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Distribution costs</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(128,998)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(143,092)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(9.8%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(264,028)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(301,384)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(12.4%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Administrative expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(206,141)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(193,706)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">6.4%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(397,919)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(381,148)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">4.4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Other expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(158,668)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(89,573)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">77.1%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(290,189)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(230,552)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">25.9%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Other gains&#47;(losses)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">12,679</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">3,304</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">283.7%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">18,583</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(43,127)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(143.1%)</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">TOTAL OPERATING EXPENSES</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,847,458)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,769,514)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2.8%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5,699,765)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5,696,517)</font></td><td colspan="3" style="border-top:0.5pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">0.1%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Other gains&#47;(losses)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(12,679)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3,304)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">283.7%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(18,583)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">43,127</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(143.1%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Adjustments for Corporate Incentive Plan</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">3,901</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">15,684</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(75.1%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">24,740</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">36,395</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(32.0%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Aircraft rentals expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">1,012</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(100.0%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2,245</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(100.0%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">ADJUSTED TOTAL OPERATING EXPENSES</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,856,236)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,756,122)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">3.6%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5,693,608)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5,614,750)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1.4%</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">TOTAL OPERATING EXPENSES</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,847,458)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,769,514)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">2.8%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5,699,765)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5,696,517)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">0.1%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Aircraft fuel expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">886,803</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">992,453</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(10.6%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">1,860,766</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2,016,826</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(7.7%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Operating Expenses (Ex-Fuel)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1,960,655)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1,777,061)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">10.3%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(3,838,999)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(3,679,691)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">4.3%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">ASKs (millions)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">40,863</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">37,737</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">8.3%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">82,120</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">76,198</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">7.8%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">CASK (Ex-Fuel)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4.8)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4.7)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1.9%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4.7)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4.8)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(3.2%)</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">ADJUSTED TOTAL OPERATING EXPENSES</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,856,236)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(2,756,122)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">3.6%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5,693,608)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(5,614,750)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1.4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Aircraft fuel expenses</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">886,803</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">992,453</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(10.6%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">1,860,766</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2,016,826</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(7.7%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">Adjusted Operating Expenses (Ex-Fuel)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1,969,433)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1,763,669)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">11.7%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(3,832,842)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(3,597,924)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">6.5%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">ASKs (millions)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">40,863</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">37,737</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">8.3%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">82,120</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">76,198</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">7.8%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">ADJUSTED CASK Ex-Fuel (US$ cents)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4.8)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4.7)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">3.1%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4.7)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(4.7)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(1.2%)</font></td></tr><tr style="height:12pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Operating lease payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(189,270)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(126,945)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">49.1%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(345,798)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(273,992)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">26.2%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Interest on finance leases</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(17,149)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(17,748)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3.4%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(33,504)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(36,514)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(8.2%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Finance lease amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(57,742)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(81,451)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(29.1%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(124,965)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(130,051)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3.9%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Non-fleet lease liabilities</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">10,081</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">5,167</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">95.1%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">20,186</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">11,112</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">81.7%</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">FLEET CASH COSTS</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(254,080)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(220,977)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">15.0%</font></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(484,081)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(429,445)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">12.7%</font></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">NET INCOME&#47;(LOSS)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">241,801</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">145,289</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">66.4%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">598,438</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">405,243</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">47.7%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Income Taxes</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">11,480</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">10,885</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">5.5%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">19,086</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">26,028</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(26.7%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Interest Expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">155,324</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">189,445</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(18.0%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">307,049</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">380,830</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(19.4%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Interest Income</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(26,975)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(31,080)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(13.2%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(60,033)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(62,530)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(4.0%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Depreciation and Amortization</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">427,252</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">344,789</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">23.9%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">816,154</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">677,611</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">20.4%</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">EBITDA</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">808,882</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">659,328</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">22.7%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1,680,694</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1,427,182</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">17.8%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Aircraft rentals expense</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">1,012</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(100.0%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2,245</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(100.0%)</font></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">EBITDAR</font></div></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">808,882</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">660,340</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">22.5%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1,680,694</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1,429,427</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">17.6%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Other gains&#47;(losses)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(12,679)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(3,304)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">283.7%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(18,583)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">43,127</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(143.1%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Foreign exchange gains&#47;(losses)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">50,903</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(47,455)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">n.m</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">126,048</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(87,082)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">n.m</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Results of indexation units</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(949)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(6,680)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(85.8%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(710)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(7,755)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(90.8%)</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Adjustments for Corporate Incentive Plan</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">3,901</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">15,684</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(75.1%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">24,740</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">36,395</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">(32.0%)</font></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">ADJUSTED EBITDAR</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">850,058</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">618,585</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">37.4%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1,812,189</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">1,414,112</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">28.2%</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div><hr style="page-break-after:always"><div style="min-height:86.4pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:64.842%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:32.958%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:6pt"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:14pt;font-style:italic;font-weight:400;line-height:100%">2Q 2025 Results</font></div></td><td colspan="3" style="background-color:#0d064d;border-bottom:1pt solid #0d064d;border-left:1pt solid #0d064d;border-right:1pt solid #0d064d;border-top:1pt solid #0d064d;padding:0 1pt"><div style="text-align:right"><img alt="image.jpg" src="image.jpg" style="height:59px;margin-bottom:5pt;vertical-align:text-bottom;width:690px"></div></td></tr></table></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:12pt;font-weight:400;line-height:112%"> </font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.965%"><tr><td style="width:1.0%"></td><td style="width:33.537%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.814%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.624%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.629%"></td><td style="width:0.1%"></td></tr><tr style="height:12pt"><td colspan="3" rowspan="2" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="9" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">For the three month period ended June 30,</font></div></td><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="9" style="background-color:#1b0088;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">For the six month period ended June 30,</font></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">% Change</font></td><td colspan="3" style="background-color:#1b0088;padding:0 1pt"></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2025</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">2024</font></td><td colspan="3" style="background-color:#1b0088;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">% Change</font></td></tr><tr style="height:5pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Purchases of property, plant and equipment</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(563,779)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(325,278)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">73.3%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(934,050)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(427,762)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">118.4%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Purchases of intangible assets</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22,831)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(21,743)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.0%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(47,936)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(35,040)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">36.8%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Reconciled by&#58;</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Leased Maintenance Capitalizations</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(54,659)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(63,766)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(14.3%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86,965)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130,672)</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(33.4)%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Capital raised for fleet related financing</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">395,520</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">445,020</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Financing of Pre delivery payments</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Recoveries of credits and Guarantee deposit received from the sale of aircraft*</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">14,586</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">6,880</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">112.0%</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,715</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27,469</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4.5%</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:400;line-height:100%">Insurance recovery</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:100%">n.m</font></div></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">TOTAL CAPEX NET OF FINANCING</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(231,163)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(403,906)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(42.8%)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(595,216)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">(566,005)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.5pt;font-weight:700;line-height:100%">5.2%</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="background-color:#ffffff;color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:700;line-height:112%">*</font><font style="background-color:#ffffff;color:#6d6d6d;font-family:'Calibri',sans-serif;font-size:8pt;font-weight:400;line-height:112%">For the six month period ended June 30, 2024, excludes US$7 million related to advanced payments arising from the sale of aircraft in the period.</font></div><div style="height:56.88pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font style="color:#7f7f7f;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">18</font></div><div style="padding-right:18pt"><img alt="image_12.jpg" src="image_12.jpg" style="height:8px;margin-bottom:5pt;vertical-align:text-bottom;width:684px"></div></div></div></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image.jpg
<TEXT>
begin 644 image.jpg
MB5!.1PT*&@H    -24A$4@  !"T   !<" 8   !*O4]\     7-21T( KLX<
MZ0    1G04U!  "QCPO\804    )<$A9<P  %Q$  !<1 <HF\S\  !H9241!
M5'A>[=UW>%35UL?Q] :A*"J*@#1!?+%Q+?002A(@G9:$($6P72L"%I2BJ'BQ
M796KB!<[*"BH*(H*HB)5.HA@I%REJH@4J5GO67O.D$QR)IED(HZ/W_4\GP>2
M.6W.Y)_]F[W7"8J-2!8      (! 0V@!       "$J$%       (2(06
M   @(!%:      " @$1H 0       A*A!0      "$B$%@      (" 16@
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MD2UV@.$.+]P!AO:_T-D7WUBO3;NLN]Q_<99<5*>/A(4D.EX'\'=": $
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M*E6^V[3=/IKW.G+XF%S<9)#'+!57Z-%1GGYBAKU5R976Y;X_[/,_%0@M
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M:'!S46/7$A'7$I9XT^NB:.VSKGW__M_MGPI*WU.3>OU-\T^G:PITA!8
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MX?%C)TQ_A^L&/B'UZO:QMFMIT:"BK=FOU16WR(-C7I<UJS:;[4NJ#V8M-C,
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M?#E_C?U30>E]K%6CE[6O]DYI)^,??M-^Q;-&WCW9>L]V".-P?8&*T (
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M_G%CI\A=0R=)S>K=36A6>%\-)'2FS*:-Q9>7[-]_2!K5N=JG62V!@M "
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M Q6A!0    #X00>D31L,D+SOMLNTJ?,E*W.LG'-Z+WNP'U^A2T& OQM""P
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M: $     ?M*^%;H41.F31)RV 5!VA!8     4 $JASO_'D#Y$5H      ("
M1&@!       "$J$%       (2(06       @(!%:      " @$1H 0
M A*A!0      "$B$%@      (" 16@      @(!$: $       (2H04
M  A(A!8      " @$5H      (" 1&@!       "$J$%       (2(06
M   @(!%:      " @$1H 0       A*A!0      "$B$%@      (" 16@
F    @(!$: $       )0LOP_+:Z5 @)($,\     245.1*Y"8((!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>image_12.jpg
<TEXT>
begin 644 image_12.jpg
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M6#-27058 =8HU56 %6"-4ET%6 %6@!5@!5@!5H U2B$U2G458 58HU17 5:
M%6#UJ:X"K  KP*JT"K!FI+H*L *L4:JK "O &J6Z"K "K  KP JP JP :Y1"
M:I3J*L *L$:IK@*L "O ZE-=!5@!5H!5:15@S4AU%6 %6*-45P%6@#5*=15@
M!5@!5H 58 58 =8HA=0HU56 %6"-4ET%6 %6@-6GN@JP JP J](JP)J1ZBK
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MK0*L&:FN JP :Y3J*L *L$:IK@*L "O "K "K  KP!JED!JEN@JP JQ1JJL
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.F@@     245.1*Y"8((!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
