4Q 2025 Results Presentation

Results Presentation Fourth Quarter and Full Year 2025

February 4, 2026

LATAM group's 2025 results reflect profitable growth

Experience excellence

Expanding operations

Profitability focus

• Record passenger NPS of 54 points.

• Four-time APEX "Five-Star Global Airline" and six-time "Best Airline in South America" by Skytrax.

• "Cargo Airline of the Year" by Air Cargo News.

• Highest Organizational Health Index (OHI) performance on record, at 83 points, entering the top decile for the first time.

• Transported over 87 million passengers in 2025, 23 million in the fourth quarter.

• 7.7% capacity growth in 4Q-25. Full year capacity increased 8.2% vs 2024.

• Received 26 aircraft during the year, of which 8 were received during 4Q-25.

• Closed the year with a fleet of 371 aircraft, +7% vs 2024.

• Launched 22 new routes, 15 of them international.

• Adjusted operating margin reached 16.2% in 2025.

• Adj. EBITDAR of US$4.1 billion, a 31.6% increase vs 2024.

• Net income came in at US$1.5 billion, with an EPADS1 of US$4.95.

• Generated US$1.4 billion in cash, which enabled share repurchases and dividend payments.

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1. EPADS corresponds to earnings per diluted ADS, calculated as net income attributable to owners of the parent company divided by the weighted average number of diluted shares.

Fourth quarter with strong top-to-bottom line performance and margin expansion

Adj. EBITDAR

Adj. Operating Income

Net Income

US$1,129

+30.4%

US$661 +42.7% US$484

+78.1%

million

vs 4Q 2024

million

vs 4Q 2024

million

vs 4Q 2024

4

Focused execution and customer preference drive PRASK increase

ASK (billion)

Load Factor (%)

Passengers (million)

PRASK (US$ cent)

Consolidated

41.0

44.2

+7.7%

4Q-24 4Q-25

Domestic Brazil

12.4 13.9

4Q-24 4Q-25

(2.3)%

Domestic SSC

7.2 7.1

+12.2%

4Q-24 4Q-25

84.6% 85.3%

4Q-24 4Q-25

83.4% 85.1%

21.5 23.0

85.5%

85.1%

(0.4)pp

4Q-24 4Q-25

+0.7pp

9.2 10.4

4Q-24 4Q-25

+1.7pp

8.1 8.1

+6.7%

+13.5%

(0.3)%

7.0 7.8

4Q-24 4Q-25

7.7 8.7

4Q-24 4Q-25

7.8 9.6

+11.7%

+14.1% USD

+9.8% BRL

+23.0% USD

+19.9% Local

21.4

23.2

+8.5%

4Q-24 4Q-25

International

4Q-24 4Q-25

4Q-24 4Q-25

(1.8)pp

86.8% 85.0%

4Q-24 4Q-25

4Q-24 4Q-25

4.2 4.5

4Q-24 4Q-25

4Q-24 4Q-25 Currency

+5.8%

6.3 6.7

+6.0%

4Q-24 4Q-25

Note: Domestic SSC refers to domestic operations of LATAM Airlines Chile, LATAM Airlines Colombia, LATAM Airlines Ecuador and LATAM Airlines Peru, Domestic Brazil refers to LATAM Airlines Brazil domestic operations and International refers to 5

international operations of LATAM Airlines Brazil, LATAM Airlines Chile, LATAM Airlines Colombia, LATAM Airlines Ecuador and LATAM Airlines Peru. Passenger RASKs (PRASK) presented are calculated based on accounting revenues (tickets flown) by business unit.

Welcoming new heights with service improvements and cabin enhancements

Renewed Business Class

Premium Comfort in 2027

Signature Check-in Lima

Upgraded premium offerings

New Signature Lounge Lima

Premium Service Offerings

6x Best Airline in South America

4x Five-Star Global Airline

Most improved brand

South America Leader Airline

54 million members

2.6 million elite members

60%

of LATAM's passenger revenues are generated by LATAM PASS members

+22%

YoY growth

transactions and miles redeemed

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Wide body Wi-Fi in 2026

Cargo Airline of the Year

Significantly improving customer metrics, while keeping costs contained

NPS Passenger operations Premium travelers

2025

54 points

58 points

NPS (points) & Adj. passenger CASK ex-fuel (US$ cents)

NPS passenger operations NPS premium Travelers Adj. Passenger CASK ex-Fuel

58

54

33

32

4.2 4.4

2019 2025 7

Consistency in results delivery throughout the years

Revenues

(US$ million)

Adj. EBITDAR

2,533

3,108

+31.6%

(US$ million)

11,789

13,034

14,495

+11.2%

4,091

2023 2024 2025

Adj. Operating Margin

(%)

2023 2024 2025

Net Income

+49.4%

1,462

977

(US$ million)

+3.5p.p.

16.2%

11.3%

12.7%

582

2023 2024 2025

2023 2024 2025

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LATAM generated US$1.4 billion in cash before capital allocation initiatives and separately dividend payments

Adj. Cash Flow FY 2025 (US$ million)

3,284

(1,454)

3,340

Cash generation

+192

(290)

(158)

1,958

(585)

2,150

(605)

Initial Cash 2025

Adj.

Operating

CapEx Net of

Financial Interest

Adj. Cash Before Financial Share

Share Repurchases

Dividend Payments

Ending Cash 2025

Cash Flow

Financing

Expense

Amortization Repurchases

& others

and Dividends

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LATAM maintained a strong balance sheet considering financial policy ranges

Liquidity (US$ million) Adjusted Net Leverage (times)

Liquidity Cash and equivalents RCF

27.1% 25.7%

23.9%

1,575

1,575

3,533 3,725

Financial Policy Range 25%

21%

2.1x

Financial Policy Target

1.7x

1.5x

<2.0x

2,814

2023 2024 2025

2023 2024 2025

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