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GOL Confirms dates for ADS Ratio Change

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SAO PAULO, April 17, 2017 /PRNewswire/ — GOL Linhas Aereas Inteligentes S.A. (“GLAI”), (NYSE: GOL and BM&FBOVESPA: GOLL4), Brazil’s #1 airline, confirms the dates for the ratio change in the Company’s American Depositary Receipt (ADR) program from a ratio of one (1) American Depositary Share (ADS) representing ten (10) preferred shares to a ratio of one ADS representing five (5) preferred shares in the Company. The purpose of the ADS ratio change is to increase liquidity in the trading, expanding the shareholder base and facilitating access to GOL ADSs on the NYSE.

As a result of the ratio change, ADS holders of record will automatically receive on the distribution date, May 1, 2017, one additional ADS for each ADS held by the close of business on the record date, April 27, 2017. The ratio change will not affect holders of the Company’s preferred shares. Existing ADSs will continue to be valid and will not have to be exchanged.

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