GOL Announces the Incorporation of G.A. Smiles Participacoes S.A. by Smiles

São Paulo, December 31, 2013 – A 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 Shareholders’ Meeting of its subsidiary Smiles S.A. (“Smiles”) held today approved the incorporation of G.A. Smiles Participações S.A. by Smiles, as per Smiles’ Management Proposal disclosed on December 16, 2013. The incorporation did not result in a capital increase in Smiles or in the issue of new shares (i.e. it does not represent a change in the Company’s interest in Smiles), with Smiles’ interest previously held by G.A. Smiles Participações S.A. being attributed to its sole shareholder, G.A. Brasil V Fundo de Investimento em Participações. As Smiles has already announced, the goodwill recorded in G.A. Smiles Participações S.A., totaling R$214,534,150.94, is part of the net assets to be incorporated by Smiles S.A. and will be fiscally amortized pursuant to the tax legislation in force.