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

São Paulo, February 24, 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”), hereby informs its shareholders and the market in general that, as envisaged in the Stock Purchase Option Granting Agreement (“Option Agreement”), entered into on April 24, 2013 between the Company and G.A. Brasil V Fundo de Investimento em Participações (“General Atlantic”), General Atlantic has notified the Company that it will exercise its right to purchase shares issued by Smiles S.A. (“Smiles”) held by the Company (“Purchase Option”).

The exercise price (“Strike Price”) to be paid on February 27, 2014 per Smiles share held by the Company will be equivalent to the price per share paid on the occasion of Smiles’ Initial Public Offering in 2013 (the “Offering”), i.e. R$21.70, restated in accordance with 100% of the variation in the CDI interbank rate until February 27, 2014.

The total number of shares that are the object of the Purchase Option will be determined as stipulated in the Option Agreement and will correspond to the division of: (i) the value corresponding to 20% of the amount in Reais effectively invested by General Atlantic in the subscription of shares within the scope of the Offering (i.e. R$400 million), by (ii) the Strike Price.

The Company will disclose the precise number of shares transferred and the exact Strike Price of the Purchase Option as soon as these amounts have been determined, which should occur by the end of February 27, 2014.