Corporate Presentation

Miami, FL

February 25th, 2015

• LATAM Airlines in figures

• Cargo Unit

• Business Update

AGENDA

We are one of the ten largest passenger and cargo airlines in the world.

PAX: 135+ destinations in 22 countries Cargo: 144+ destinations in 27 countries

53 thousand Employees

60,000,000 Passengers

1.2 million Tons

13.3 billion USD

$

The Company

LATAM is a leader in the South American airline space

2013 Percenteges by Region– Gross Revenues

Our Business Units

2013 Percentages by Region– Gross Revenues

OCEANIA

1%

Cargo Unit

Our Cargo Unit in Figures

2013 Percentages by Region– Gross Revenues

Revenue by Geographic Area 2013

U.S.A.

36%

LATIN AMERICA

39%

EUROPE

15%

ASIA

7%

REST OF

THE WORLD

<1 %

CENTRAL

AMERICA

2%

OCEANIA

1%

Composition of Air Cargo Markets

Perishables Urgent Valuables

Demand is extremely sensitive to route and direction (e.g. SCL-MIA ≠ MIA-SCL)

General Cargo

Air Cargo in Latin America

26%

18%

15%

6%

5%

4%

25%

Flowers

Fish

Vegetables

Industrial and Specialized Machinery

Small Packages and Shipments

Electrical Machinery

Others

24.8%

14.2%

10.3% 5% 4%

41.8%

Industrial and Special ized Machinery

Electrical Machinery

Small Packages and Shipments

Special ized Equipment

Ferrous Products

Others

Operational efficiencies must be obtained by managing unbalanced flows and seasonal fluctuations

Southbound Northbound

Source: Boeing World Air Cargo Forecast 2012 – 2013

~50% ~50%

% of revenue (post-merger)

Freighter Flights

FLEXIBILITY AND VERSATILITY

Allows adjustment of

supply levels

STABILITY AND FREQUENCY

Ensures a consistent

service level

Passenger Flights

~80-85%

Business Model

LATAM Airlines became one of the largest cargo airlines in the world…

Post-merger

0 500 1000 1500 2000 2500 3000 3500 4000

AF-KLM

Lufthansa

Emirates

Cathay

Korean

Cargolux

LATAM

Singapore

ANA

IAG

China Air

Air China

China Eastem

EVA

China Southern

Qantas

JAL

United-Cont

AVCA

THAI

Source:2013 Financial Statements of each company. Excludes integrated competitors such as FedEx, UPS, DHL, TNT.

Cargo Revenue

(MUSD)

…providing significant revenue diversification for LATAM Airlines…

0% 20% 40% 60% 80% 100%

Cargolux

Atlas

China Air

Eva

Korean

Cathay

Singapore

Emirates

LATAM

THAI

AF-KLM

Lufthansa

ANA

China Eastem

Air China

AVCA

JAL

China Southern

Qantas

IAG

% Carga

% Otros

Number

9

Source:2013 Financial Statements of each company.

Cargo

Others

…and a leading position in key markets…

USA - Latin America (RT). Market Share

Europe - Latin America (RT). Market Share

Domestic Brazil Market Share

~63%

~37%

~76%

~24%

~50%

~50%

Operations on cargo aircraft and in bellies of passenger aircraft. More than 60 destinations. Europe Markets:

EUR-VCP/GRU/CWB EUR-SCL/COL/LIM/UIO/BRA-EUR

Source: Internal Estimations and Customs Reports. H1 2014

USA Markets: MIA-Brazil/SCL/LIM

SCL/LIM/COL/UIO-MIA

LATAM Airlines Fleet

PASSENGER AIRCRAFT 312

FREIGHTERS 12

324 aircraft

Network

NETWORK LATAM

Buenos Aires

Miami

Madrid

Paris

Frankfurt

Quito

Guayaquil

Lima

Santiago

Bogota

International passenger and cargo destinations. International cargo only destinations. International cargo destinations in Brazil. More than 40 domestic desinations in Brazil.

135

9

9

40

Sao Paulo

Rio de

Janeiro

London

Presence

GSA

Domestic Markets v

Regional Office

Headquarters Cargo Affiliates

Regional

Office SJU

HKG

ICN

KUL

MNL

PVG

TPE

TPE

SIN

AMS

MIL CDG

FRA

MIA

MAD

NRT

KIX

NGO

YVR YUL

YYZ

ORD

IAH ATL

Colombia

Business Update

LATAM Airlines Vision: be one of the three best airlines in the world.

• Product portfolio development • Robust SLA’s • Improved customer interactions

Enhanced client experience

Network Optimization & Development

Execution Excellence

• Leveraging belly capacity • Disciplined capacity management • Smart asset utilization (ie. Freighter supporting

belly)

• Lean & reliable operations • Seamless connectivity

LATAM Cargo’s International Strategy is anchored in three main pillars

Market Overview 2014

Rational and disciplined approach towards freighter capacity

30%

70%

Belly

Freighter

55%

45%

LAN LATAM

ATK distribution by business unit (LAN LATAM)

• No additional orders • Expiration of leases • Leasing 3 B767F to other

carrier

Context

• Weak regional cargo markets • Increased competition from regional

and international cargo carriers

LATAM Cargo

• Focus on optimizing belly capacity

Update on Capacity & Fleet

12 12

9 8

4 4

44

0

5

10

15

20

2012 2013 2014 2015

B777

B767

48.2 51.3

48.1 49.7

51.8 49.5 46.2 45.3

0

20

40

60

80

100

120

2015 2014 2013 2012

• Passenger bellies to remain key growth driver in 2015, freighter capacity to remain roughly flat • 25% reduction in B767 fleet helps match supply and demand without major itinerary adjustments

Capacity Evolution 2012-2015 ATKs by type (2012 = 100)

Freighter Fleet 2012-2015 Number of Aircraft

# Pax WB

B7

77

B

76

7

84 78 79 75

Frei

ghte

r P

AX

Market Outlook 2015

NAM-SA

Flows

EUR-SA

SA-NAM

SA-EUR

% Growth YoY Drivers

2-4%

4-5%

1-3%

3-5%

• Recovery in imports to Brazil after World Cup

• Expected growth in auto industry • Increased cargo from Asia

• Steady growth of main commodities offset by very weak seed season

• Growth led by COL and ECU exports

- Direct dedicated freighter ex

BSL supports pharma

opperation

- Only direct freighter

alternative into GRU ex EUR

Introducing new freighter operation AMS/BSL –GRU- EZE-SCL

23

Opportunity

Build a setup that would enable us to offer a virtual online service from main Asian origins to Latin America

• Reliability • Visibility & Traceability • Service Recovery Protocol • Flexible shipping units

Enhanced Cargo Transfer and Service Agreement

Asia Project (ECTSA)

Thank You

Miami, FL February 25th, 2015