FEBRUARY 27TH, 2014

GOL Announces the Exercise of Smiles S.A. Stock Purchase Option by General Atlantic

São Paulo, February 27, 2014 – GOL Linhas Aéreas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL), (S&P: B, Fitch: B-, Moody’s: B3), the largest low-cost and low-fare airline in Latin America, hereby informs its shareholders and the market in general that, complementing the notification of the exercise of stock purchase options by G.A. Brasil V Fundo de Investimento em Participações (“General Atlantic”), as per the Notice to the Market of February 24, 2014, as envisaged in the Stock Purchase Option Granting Agreement entered into between the Company and General Atlantic on April 24, 2013, on this date, February 27, 2014, General Atlantic exercised all the purchase options for shares issued by Smiles S.A. (“Smiles”), granted by the Company on its behalf. This amount represents a total of 3,443,476 shares, or 2.8% of Smiles’ capital stock, corresponding to: (i) 20% of the amount in Reais effectively invested by General Atlantic in the subscription of shares within the Smiles IPO (i.e. R$400 million); divided by (ii) the strike price of R$23.30 per share, i.e. R$21.70, adjusted by 100% of the variation in the CDI (interbank rate) until February 27, 2014. As a result of General Atlantic’s exercise all the purchase options for shares, the Company’s interest in its subsidiary Smiles S.A. is now 54.5%, versus 57.3% prior to the above operation.