São Paulo, May 16, 2025 – GOL Linhas Aéreas Inteligentes S.A. (B3: GOLL4) (“Company” or “GOL”), one of the leading airlines in Brazil, today announced that it has successfully secured binding commitments for US$ 1.90 billion in exit debt financing in connection with the Chapter 11 cases initiated by the Company and its subsidiaries, pursuant to the U.S. Bankruptcy Code, in the U.S. Bankruptcy Court for the Southern District of New York (the “Exit Financing”).

During the last six months, GOL has conducted a widely marketed process. Following the Bankruptcy Court’s approval of the Company’s backstop agreement with Castlelake, L.P. and Elliott Investment Management, L.P. (the “Anchor Investors”), pursuant to which the Anchor Investors made commitments to purchase up to $1.25 billion of the Company’s exit financing, the Company reached a settlement agreement with an ad hoc group (the “Ad Hoc Group”) of holders of 8.00% Senior Secured Notes due 2026 issued by Gol Finance (Luxembourg), pursuant to which the members of the Ad Hoc Group made commitments to purchase $125 million of the Company’s $1.9 billion of exit financing notes.

GOL needed to secure US$ 495.5 million in additional commitments to complete the Exit Financing and ultimately received commitments for US$ 796.9 million. Due to this demand, GOL reduced the interest rate of the Exit Financing from 14.625% to 14.375%. Moreover, the Company requested that the Ad Hoc Group agree to reduce its previously disclosed commitment of US$125 million by US$75 million, increasing the total amount available to other investors to US$ 570.5 million. The Ad Hoc Group also agreed to reduce its US$ 10 million “Work Fee” to US$ 4.0 million.

Pursuant to the Exit Financing commitment letters, the participating investors obligated themselves to purchase US$ 1.90 billion (excluding fees and costs paid) in debt instruments to be issued on the effective date of the restructuring plan in the Chapter 11 Cases (the “Plan”). Subject to the Court’s confirmation of the Plan, the Exit Financing will comprise:
 US$ 1.250 billion provided by the Anchor Investors;
 US$ 50 million provided by the Ad Hoc Group;
 US$ 30 million in new money participation in the Company’s 2026 Rights Offering; and
 US$ 570 million in commitments by other investors.

The Exit Financing will be used to repay the obligations under the debtor-in-possession financing entered into by the Company and its subsidiaries in connection with entry into the Chapter 11 Cases and to pay transaction costs. The financing will also enhance the Company’s liquidity position following its emergence from the Chapter 11 Cases, providing working capital and other support for business operations moving forward.

Advisors
In the context of its restructuring efforts, GOL is working with Milbank LLP as legal advisor, Seabury Securities, LLC as investment banker, lead placement agent for the US$ 1.9 billion exit notes, financial advisor and sole restructuring advisor, BNP Paribas Securities Corp. as bookrunner (B&D) and placement agent for the exit notes, and AlixPartners, LLP as financial advisor. In addition, Lefosse Advogados acts as GOL’s Brazilian legal advisor. Special note regarding forward-looking statements