GOL Board Approves Partial Ratification of the Company's Capital Increase

SÃO PAULO, AUGUST 13, 2012 – 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, announces that the Board of Directors’ meeting held on August 13, 2012 approved the partial ratification of the Company’s capital increase, as approved by the Board of Directors’ meeting on December 21, 2011, as part of Delta’s indirect investment.

Given the partial ratification of the capital increase, the Company subscribed R$183,189,204.00 (one hundred eighty-three million, one hundred eighty-nine thousand, two hundred and four reais), represented by 6,825,470 common shares and 1,501,312 preferred shares, totaling 8,326,782 shares. Of this total, 8,300,455 shares were subscribed by the controlling shareholder and 26,327 shares subscribed by minority shareholders. With the Company’s capital now totaling R$2,499,688,826.61(two billion, four hundred ninety-nine million, six hundred eighty-eight thousand, eight hundred and twenty-six reais and sixty-one centavos), composed of 278,716,786 (two hundred seventy-eight million, seven hundred sixteen thousand, seven hundred and eighty-six) shares, divided into 143,858,204 (one hundred forty-three million, eight hundred fifty-eight thousand, two hundred and four) common shares and 134,858,582 (one hundred thirty-four million, eight hundred fifty-eight thousand, five hundred and eighty-two) preferred shares.
At the end of period for exercising the Right of Preference, there was a balance of 5,118,453 unsubscribed shares, which were cancelled on August 13, 2012, upon the partial ratification of the Capital Increase.