RELEVANT INFORMATION
Bogotá D.C., September 15, 2021. Avianca Holdings S.A. (OTCMKTS: AVHOQ, BVC: PFAVH) (Avianca or the
Company) informs that, in accordance with the Companys disclosures to the market on the dates set forth in Table A (below), in the context of the Companys Chapter 11 proceedings, the Bankruptcy Court for the
Southern District of New York (the Bankruptcy Court) has, among other matters: (i) approved the disclosure statement (the Disclosure Statement) for the proposed plan of reorganization (the
Plan) for the Company or any of its affiliated debtors in the Chapter 11 proceedings (the Debtors), (ii) authorized Avianca to distribute the Disclosure Statement and to solicit votes on the Plan from certain
classes of creditors, and (iii) approved the Companys entry into and performance under, the Equity Conversion and Commitment Agreement (the ECCA), dated September 1, 2021, by and among the Company, certain of its
subsidiaries, and each of Aviancas Tranche B Lenders under the Companys outstanding DIP Credit Agreement.
Based on the above, the
Company reiterates, once again, that in case the creditors approve the Plan and the Bankruptcy Court thereafter confirms the Plan on terms consistent with the ECCA, the Companys current shareholders (including ordinary shareholders and
preferred shareholders) will not receive any distribution. As a result of the foregoing, under the Plan, the value of the outstanding shares of the Company is expected to be reduced to zero, due to the decrease in equity of the Company attributable
to the Debtors liabilities to third parties and creditors, as well as the capital injection by new investors as contemplated by the Plan and the ECCA.
Avianca also reiterates, once again, that it is not aware of any other facts or material information (other than those previously disclosed to the market
pursuant to the applicable information mechanisms) which may be the cause of any variation or volatility in the price of the Companys shares.
The
Company reminds the market that the Bankruptcy Court has set a hearing to consider approval of the Plan for October 26, 2021 at 10 a.m. (Eastern Time). The Bankruptcy Court has also set October 14, 2021 at 4 p.m. (Eastern Time) as the
deadline to submit votes in respect of the Plan and October 19, 2021 at 4 p.m. (Eastern Time) as the deadline to object to the Plan.
Table A
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Date
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May 20, 2020
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April 14, 2021
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July 22, 2021
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August 10, 2021
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September 1, 2021
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September 14, 2021
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Forward-Looking Statements
Avianca has included statements in this press release that constitute forward-looking statements. As a general matter, forward-looking statements
are those focused on future or anticipated events or trends, expectations and beliefs, including, among other things, the Companys expectations with respect to its Chapter 11 proceedings, the airline industry and the