LATAM Airlines S A : Suscripción o renovación de contratos

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HECHO ESENCIAL

LATAM AIRLINES GROUP S.A.

Inscripción Registro de Valores Nº 306

Santiago, 12 de enero de 2022

Señor

Joaquín Cortez Huerta

Presidente

Comisión para el Mercado Financiero

Av. Libertador Bernardo O´Higgins 1449

Santiago

Ref.: Comunica HECHO ESENCIAL

De mi consideración:

De acuerdo a lo establecido en el Artículo 9º y en el inciso segundo del Artículo 10º de la Ley de Mercado de Valores, y en la Norma de Carácter General N° 30, debidamente facultado, por medio del presente informo el siguiente HECHO ESENCIAL de LATAM Airlines Group S.A. ("LATAM" o la "Sociedad"), inscripción Registro de Valores Nº 306:

Como fuera informado previamente, la Sociedad y algunas de sus filiales directas e indirectas (en adelante, conjuntamente con LATAM, los "Deudores") se encuentran actualmente sujetas a un proceso de reorganización en los Estados Unidos de América bajo el Capítulo 11 del Título 11 del Código de Estados Unidos, ante el Tribunal de Quiebras de los Estados Unidos del Distrito Sur de Nueva York (el "Procedimiento Capítulo 11").

Como parte del Procedimiento Capítulo 11 y las potenciales transacciones de reestructuración bajo el mismo de los Deudores y/o de algunas de sus deudas, la Sociedad celebró acuerdos de confidencialidad (colectivamente, los "NDAs") con ciertas contrapartes, en virtud de los cuales la Sociedad acordó divulgar públicamente cierta información, incluyendo información material no pública ( la "Información Revelada"), al ocurrir ciertos eventos establecidos en los NDAs. En cumplimiento de sus obligaciones en virtud de algunos de dichos NDAs, la Sociedad proporciona la Información Revelada, como Anexos 99.1 y 99.2 del presente documento.

Le saluda muy atentamente,

Roberto Alvo M.

Gerente General

LATAM Airlines Group S.A.

Adj:

Anexo 99.1 - Acuerdo de Soporte de los Acreedores Soportantes.

Anexo 99.2 - Acuerdo de Soporte de los Accionistas Soportantes.

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Anexo 99.1 - Acuerdo de Soporte de los Acreedores Soportantes

Execution Version

BACKSTOP COMMITMENT AGREEMENT

AMONG

LATAM AIRLINES GROUP S.A.

AND

THE OTHER DEBTORS PARTY HERETO

AND

THE BACKSTOP PARTIES PARTY HERETO

Dated as of January 12 2022

	TABLE OF CONTENTS
		Page
ARTICLE I DEFINITIONS ........................................................................................................	3
Section 1.1	Definitions...........................................................................................................	3
Section 1.2	Additional Defined Terms ................................................................................	22
Section 1.3	Construction ......................................................................................................	23
ARTICLE II BACKSTOP COMMITMENT ..........................................................................	24
Section 2.1	Offerings ...........................................................................................................	24
Section 2.2	Backstop Commitment......................................................................................	26
Section 2.3	Backstop Party Default .....................................................................................	26
Section 2.4	Backstop Escrow Account Funding..................................................................	28
Section 2.5	Closing ..............................................................................................................	30
Section 2.6	Designation and Assignment Rights .................................................................	31
ARTICLE III BACKSTOP PAYMENT AND EXPENSE REIMBURSEMENT ................	33
Section 3.1	Backstop Payment.............................................................................................	33
Section 3.2	Payment of Backstop Payment .........................................................................	34
Section 3.3	Expense Reimbursement...................................................................................	35
Section 3.4	Tax Matters .......................................................................................................	36
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE DEBTORS ............	38
Section 4.1	Organization and Qualification.........................................................................	38
Section 4.2	Corporate Power and Authority ........................................................................	38
Section 4.3	Execution and Delivery; Enforceability............................................................	39
Section 4.4	Authorized and Issued Share Capital ................................................................	39
Section 4.5	Issuance.............................................................................................................	40
Section 4.6	No Conflict........................................................................................................	40
Section 4.7	Consents and Approvals ...................................................................................	41
Section 4.8	Arm's Length ....................................................................................................	41
Section 4.9	Financial Statements; Undisclosed Liabilities ..................................................	42
Section 4.10	Company SEC Documents and Disclosure Statement......................................	42
Section 4.11	Absence of Certain Changes .............................................................................	42
Section 4.12	No Violation; Compliance with Laws ..............................................................	42
Section 4.13	Proceedings .......................................................................................................	43
Section 4.14	Labor Relations .................................................................................................	43
Section 4.15	Intellectual Property; Privacy ...........................................................................	43
Section 4.16	Title to Real and Personal Property ..................................................................	43
Section 4.17	No Undisclosed Relationships ..........................................................................	44
Section 4.18	Licenses and Permits.........................................................................................	44
Section 4.19	Environmental...................................................................................................	44
Section 4.20	Tax Matters .......................................................................................................	45
Section 4.21	Labor and Social Security Matters....................................................................	45
Section 4.22	Internal Control Over Financial Reporting .......................................................	46
Section 4.23	Disclosure Controls and Procedures .................................................................	46
Section 4.24	No Unlawful Payments .....................................................................................	46
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Section 4.25	Compliance with Money Laundering Laws......................................................	46
Section 4.26	Compliance with Sanctions Laws .....................................................................	46
Section 4.27	No Broker's Fees ..............................................................................................	47
Section 4.28	Certain Aircraft Matters ....................................................................................	47
Section 4.29	Insurance ...........................................................................................................	47
Section 4.30	Investment Company Act .................................................................................	47
Section 4.31	Exemption from Registration............................................................................	47
Section 4.32	Alternative Transaction.....................................................................................	47
ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE BACKSTOP
PARTIES .....................................................................................................................................	48
Section 5.1	Incorporation.....................................................................................................	48
Section 5.2	Corporate Power and Authority ........................................................................	48
Section 5.3	Execution and Delivery.....................................................................................	48
Section 5.4	No Conflict........................................................................................................	48
Section 5.5	Consents and Approvals ...................................................................................	49
Section 5.6	Purchasing Intent ..............................................................................................	49
Section 5.7	Sophistication; Investigation.............................................................................	49
Section 5.8	Sufficiency of Funds .........................................................................................	50
Section 5.9	Proceedings .......................................................................................................	50
Section 5.10	Competition.......................................................................................................	50
Section 5.11	Additional Securities Laws Matters; Undertakings. .........................................	51
Section 5.12	BCA Claims ......................................................................................................	51
ARTICLE VI ADDITIONAL COVENANTS..........................................................................	52
Section 6.1	Approval of the Requisite Backstop Parties .....................................................	52
Section 6.2	Orders; Plan and Disclosure Statement.............................................................	52
Section 6.3	Covenants of the Company...............................................................................	53
Section 6.4	Antitrust Approval ............................................................................................	54
Section 6.5	Access to Information .......................................................................................	56
Section 6.6	Financial Information........................................................................................	57
Section 6.7	Alternative Transaction Proposals ....................................................................	58
Section 6.8	Commercially Reasonable Efforts ....................................................................	59
Section 6.9	New Board of Directors; Governance...............................................................	59
Section 6.10	Corporate Incentive Plan; Management Protection Provisions and Short
Term Incentive Plan..................................................................................................................	60
Section 6.11	Securities Registration; Registration Rights Agreement, Etc. ..........................	60
Section 6.12	Use of Proceeds.................................................................................................	60
ARTICLE VII CONDITIONS TO THE OBLIGATIONS OF THE PARTIES ..................	61
Section 7.1	Conditions to the Obligation of the Backstop Parties .......................................	61
Section 7.2	Waiver of Conditions to Obligation of Backstop Parties..................................	66
Section 7.3	Conditions to the Obligation of the Company ..................................................	66
ARTICLE VIII INDEMNIFICATION AND CONTRIBUTION ..........................................	67
Section 8.1	Indemnification Obligations .............................................................................	67
Section 8.2	Indemnification Procedure................................................................................	68
Section 8.3	Settlement of Indemnified Claims ....................................................................	69
Section 8.4	Contribution ......................................................................................................	69
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