TRGS · TRG Latin America Acquisitions Corp.

As described in the registration statement on Form S-1 (File No. 333-293354) of TRG Latin America Acquisitions Corp. (the "Issuer") under the heading "Description of Securities--Founder Shares," the Class B ordinary shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or at any time prior to the Issuer's initial business combination, at the option of the holder, on a one-for-one basis, subject to certain adjustments. The Class B ordinary shares have no expiration date.

As contemplated in connection with the initial public offering of the Issuer, as a result of the underwriters' partial exercise of the over-allotment option, 592,000 Class B ordinary shares were surrendered by TRG Latin America Acquisitions LLC (the "Sponsor") to the Issuer for no consideration.

Nick S. Rohatyn, the Chief Executive Officer and Chairman of the Issuer, controls TRG Allocation LLC, the managing member of the Sponsor and has voting and investment discretion with respect to the securities held of record by the Sponsor. As such, each of TRG Allocation LLC and Mr. Rohatyn may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of TRG Allocation LLC and Mr. Rohatyn disclaims any beneficial ownership except to the extent of his pecuniary interest therein.

Represents shares underlying the private placement units (each unit consisting of one Class A ordinary share one right to receive one-tenth (1/10) of one Class A ordinary share upon consummation of the Issuer's initial business combination) directly held by TRG Latin America Acquisitions LLC (the "Sponsor"), and which were acquired pursuant to a Private Placement Units Purchase Agreement by and between the Sponsor and TRG Latin America Acquisitions Corp. (the "Issuer"). Does not include 5,750,000 Class B ordinary shares, which shares will automatically convert into Class A ordinary shares at the time of the Issuer's initial business combination, or earlier at the option of the holder, on a one-for-one basis, subject to adjustment as described under the heading "Description of Securities--Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-293354).

Nick S. Rohatyn, the Chief Executive Officer and Chairman of the Issuer, controls TRG Allocation LLC, the managing member of the Sponsor and has voting and investment discretion with respect to the securities held of record by the Sponsor. As such, each of TRG Allocation LLC and Mr. Rohatyn may be deemed to have beneficial ownership of the securities held of record by the Sponsor. Each of TRG allocation LLC and Mr. Rohatyn disclaims any beneficial ownership except to the extent of his pecuniary interest therein.