MAY 13TH, 2016

GOL Exchange Offer provides Significant Premium to bondholders

SAO PAULO, May 13, 2016 /PRNewswire/ — GOL Linhas Aéreas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL), (S&P: CC, Fitch: C and Moody’s: Caa3), the largest low-cost and best-fare airline in Latin America, as part of its comprehensive restructuring plan, is offering a significant premium to bondholders that elect to exchange their outstanding unsecured bonds for cash and new secured bonds.

Unsecured bondholders have the opportunity to exchange their securities at approximately a 10 to 50% premium to their current market value, for cash consideration and new bonds secured by collateral. Based on current market prices, holders of the Senior Notes maturing in 2017 can exchange their bonds at approximately a 50% premium. The holders of Notes maturing in 2020, 2022 and 2023 can exchange at approximately a 20% premium over current market value. The Perpetual Notes holders can exchange at a premium of approximately 10%.

“The Exchange Offer represents an opportunity for bondholders to participate in the restructuring and receive a premium for their bonds. We are confident that bondholders will recognize that it is in their best interests to exchange their notes,” said Edmar Lopes, GOL´s CFO.

For more information and to participate in the private exchange offer, eligible bondholders can visit the following website: www.dfking.com/gol.