GOL Announces Redemption of 2022 Senior Notes by GOL Finance

São Paulo, Brazil, February 21, 2020 - GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4) ("GOL" or the "Company") today announced that GOL Finance initiated an optional redemption of its 8.875% Senior Notes due 2022 (the "Notes").

The Notes will be redeemed on March 23, 2020 (the "Redemption Date") at a redemption price (the "Redemption Price") equal to 102.219% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the Redemption Date. Notes held through The Depository Trust Company ("DTC") should be surrendered for redemption in accordance with DTC's procedures therefor. The Company has been informed that all Notes are held through DTC. The Notice of Redemption of the Notes will be sent to all registered holders on February 21, 2020. Interest on the Notes will cease to accrue on and after the Redemption Date, subject to certain exceptions, and the only remaining right of holders of the Notes is to receive payment of the Redemption Price.

GOL Finance is exercising the call option on these Notes as a part of GOL's ongoing capital structure strategy, which aims to properly match the tenor of long-term assets and liabilities, optimize the cost of capital, improve cash flows and grow earnings. Since 2017, the Company redeemed or retired R$3.7 billion of debt, reducing GOL's overall funding costs, and successfully re-positioned its credit among the world's leading low-cost carriers. In 2019, its credit rating was upgraded by the three major corporate credit rating agencies to B/B+.

"We continue to strengthen GOL's equilibrium through our disciplined capital structure optimization, with the view to further improving our credit rating this year," said Richard Lark, the Company's CFO.

The redemption will be funded from the proceeds of long-term aircraft asset divestments realized earlier this year.

This press release is for informational purposes only and does not constitute a notice of redemption of the Notes.