LATAM Airlines S A : 4Q 2025 Results Presentation

About this update from Latam Airlines Group Sa

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 EPADS 1 of US$4.95. Generated US$1.4 billion in cash, which enabled share repurchases and dividend payments. 3 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$484 +78.1% million vs 4Q 2024 million vs 4Q 2024 million vs 4Q 2024 Income Statement (US$ million) 4Q-2025 4Q-2024 Change Revenues 3,949 3,395 +16.3% Passenger 3,450 2,867 +20.3% Cargo 425 470 (9.6)% Total Adjusted Expenses (3,288) (2,932) +12.1% Adj. EBITDAR Margin 28.6% 25.5% +3.1 p.p Adj. Operating Margin 16.7% 13.6% +3.1 p.p Net Income Margin 12.3% 8.0% +4.3 p.p Passenger RASK (US$ cents) 7.8 7.0 +11.7% Passenger CASK ex-fuel (US$ cents) 4.7 4.4 +7.9% 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 6 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 8 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) +1,382 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 9 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% 1,100 1,575 1,575 1,714 1,958 2,150 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 10 ar Attention : This is an excerpt of the original content. To continue reading it, access the original document here .

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