GOL Announces Issuer Substitution for Senior Notes 2023

São Paulo, February 13, 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 (“Company”), announces a substitution of the issuer for the Senior Notes (“Notes”), originally issued by its subsidiary VRG Linhas Aéreas S.A. (“VRG”). Thus, Gol LuxCo S.A., another subsidiary of the Company, became, on February 12, 2014, the issuer of the Senior Notes Due 2023, priced at 10.75%. The notes will maintain its original characteristics, generating primary obligations to Gol LuxCo S.A., remaining, however, fully guaranteed by VRG and the Company.