São Paulo, May 26, 2021 - GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4), ("GOL" or "Company"), Brazil's largest airline, today announces its preliminary general outlook and guidance for the second half of 2021.

During the month of May, GOL has seen a material improvement in its sales in the Brazilian domestic air travel market. While the path for the recovery in demand from the pandemic has been difficult to predict and a high level of uncertainty remains, advances in the roll-out of vaccines by Brazil's National Program for Immunization are having a positive impact on demand for air travel.

The increase in sales combines with other key steps taken by Management, which are also providing material improvements at this stage of the recovery. For 2Q21, the Company expects a load factor of 81% (versus the 79% previously guided) and recurring unit costs to be down 40% when compared to 2Q20 (versus the down 27% previously guided).

The re-integration of GOL's Smiles loyalty program enables synergies in the Group, improves the Company's creditworthiness and increases its cash flow and earnings. The acquisition of the minority interest in Smiles is expected to close on June 23. By the end of 2Q21, there will have been almost R$3 billion of new capital issued by GOL, which includes an equity capital increase of up to R$512 million initiated and led by the controlling shareholder, a R$1.5 billion re-tap of the Company's Secured Program, and the GOL equity to be issued for the acquisition of the minority interest of Smiles.

In addition, the Company has fully repaid the US$250 million short term loan it received in August 2020 which, together with the conclusion of the acquisition of the Smiles minority interest, frees up valuable unencumbered assets.  With these events, GOL will close the second quarter of 2021 with its principal financial obligations addressed. The Company will also be optimally positioned to capture the growth in Brazilian domestic air travel market that is expected for the second half of this year, beginning in June as the transition month to the high season.

Combined, these measures provide the Company with greater visibility on its expected results for the second half of 2021 and, therefore, GOL is resuming its regular guidance best practices.

The Company's estimates highlight key metrics which impact financial results and drive shareholder value. GOL provides forward-looking information that is focused on the main indicators the Company uses to measure business performance.

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(1) Source: Brazilian Central Bank; (2) Excluding non-operating expenses and depreciation related to fleet idleness and personnel-related costs; (3) Cash and cash equivalents, restricted cash, accounts receivables and deposits; (4) Excluding perpetual bonds and exchangeable notes; (5) Pro-forma, excluding non-operating expenses and depreciation; and (6) 4Q21E annualized.