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Em 26 de janeiro de 2022, AR informa o nome da sua mandatária.

Em 27 de janeiro de 2022, às 21h55, o Advogado CSE envia uma mensagem a Christine

Ourmières-Widener a informar que falou com a Advogada de AR e que aguarda uma proposta.

Antecipa que a proposta poderá não ser económica e politicamente viável.

No dia 28 de janeiro de 2022, às 00:00, o Advogado CSE envia um email a Christine Ourmières-

Widener com a primeira proposta de acordo de Alexandra Reis e alerta para as condições

económicas e políticas inaceitáveis.

Dear Cristine,

We have received from Alexandra’s lawyer her proposal, the full content of which is attached.

In brief, she is asking for:

(i) € 1,281k, as compensation for early termination of her mandate as board member (full

remuneration without

the temporary emergency cuts and calculated with reference to a multiplier of 1.25);

(ii) € 42k, in relation to use of company car until 31/12/2024;

(iii) € 56k, as compensation for termination of her employment contract;

(iv) € 100k, as compensation for untaken holidays;

Per our previous conversation, I appreciate that the conditions are financially and politically

unacceptable and therefore we need to decide the way to proceed.

My view (regardless of our discussing this in more detail tomorrow) is that the following options

may be considered:

(a) present a counterproposal whereby we would accept the conditions for termination of

employment but in relation to the termination of her mandate consider compensation between

€ 175,5k and € 331,6k, depending on what we use as a basis for the calculation as board member

specific remuneration (€ 6K or € 13k)

(b) refuse the proposal altogether, not present any counterproposal and ask that she review the

terms, otherwise a unilateral termination would be the next step (shareholder resolution

removing her from her role as board member);

(c) initiate a different negotiation approach whereby TAP could consider, in instance:

- paying a lower compensation now (e.g. 56k as employment termination compensation + 175k

as compensation for the early termination of her mandate), and

- continuing to pay a percentage of her remuneration monthly (e.g. 50 %-75 % of EUR 25k over

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