Latam Airlines Group Sa · BCS:LTM
Latam Airlines Group Sa — Shareholder Meeting (June 2025)
9 slides from Latam Airlines Group Sa's shareholder meeting presentation, Jun 26, 2025
Slide 1: Extraordinary Shareholders' Meeting
Extraordinary Shareholders' Meeting June 26, 2025 1
Slide 2: LATAM's first share buyback successfully closed, acquiring the entire proposed shares
LATAM's first share buyback successfully closed, acquiring the entire proposed shares LATAM launched its first buyback program in March 2025, for up to 1.6% of its share capital (approximately 9,671 million shares), as part of its strategy to generate higher returns for its shareholders. The transac
Slide 3: Share buyback and liquidity
Share buyback and liquidity The sale of the Selling Shareholders, which took place on June 16, should reasonably contribute to increasing liquidity. Average total traded volume of local share and ADR in 90 days (US$ Mn) Execution of OFB 40.0 Publication of Q4-24 Publication of Q1-25 results results
Slide 4: Strong first-quarter financial results and upward guidance support the execution of the new buyback program
Strong first-quarter financial results and upward guidance support the execution of the new buyback program Financial Metrics Q1-2025 Total liquidity1 (US$ bn) Total revenue1 Adjusted operating margin US$3.4 billion +3% 16.8% YoY growth Adjusted EBITDAR Total liquidity US$962 million 28.4% +21% YoY
Slide 5: Financial policy includes improving returns to shareholders
Financial policy includes improving returns to shareholders The latest Standard & Poor's report rated the policy as prudent. ● Achieve a BB+ credit rating. Maintain a strong capital ● Maintain adjusted net leverage <2.0x. structure ● Liquidity level between 21%-25% of the last twelve months of reven
Slide 6: Based on the most commonly used valuation parameters, it remains undervalued
Based on the most commonly used valuation parameters and analysts' opinions on the stock, it remains undervalued. Trading at historically low levels (EV/EBITDA) Average sell-side analysts' target price, higher than the current price (CLP) HIGHLY CONFIDENTIAL Pre-Covid EV/EBITDA EV/EBITDA 2025 (2) Cu
Slide 7: Mechanism and conditions of a new share buyback program
Mechanism and conditions of a new share buyback program They must be carried out on the Santiago Transactions concluded for the Stock Exchange. purpose of acquiring own-issue shares Through systems that allow for the pro rata acquisition of the shares received, and if the percentage set for acquisit
Slide 8: Analysis of the impact on the liquidity of the stock
Analysis of the impact on the liquidity of the stock ● The initial buyback program does not appear to have affected liquidity. On the contrary, trading volume has increased in the weeks following the closure of the OFB. ● Subsequently, on June 16 of this year, the Selling Shareholders placed approxi
Slide 9: Extraordinary Shareholders' Meeting
Extraordinary Shareholders' Meeting June 26, 2025 9
LATAM Airlines Group — Shareholder Meeting (June 2025) on 6ix