Notice to the Market


São Paulo, May 26, 2015 - GOL Linhas Aéreas Inteligentes S.A. ("Gol" or "Companhia") (BM&FBOVESPA: GOLL4 and NYSE: GOL), the largest low-cost and best fare airline in Latin America, in compliance with Instruction CVM Nº 358, dated January 03rd, 2002, announces to its shareholders and the market that, on May 26th, 2015, G.A. Brasil V Fundo de Investimento em Participações, an investment fund enrolled with the Brazilian Federal Taxpayers' Registry (CNPJ/MF) under No. 17.960.711/0001-00 ("FIP GA"), sold the totality of the shares held by it in Smiles S.A., a publicly-held company enrolled with the Brazilian Federal Taxpayers' Registry (CNPJ/MF) under No. 15.912.764/0001-20 ("Smiles").
In accordance with the provisions of clause 5.1. of the First Amendment to the Shareholders Agreement entered into on April 10, 2015 between FIP GA and the Company ("Shareholders Agreement"), the 12 month period for the termination of the Shareholders Agreement commence on May 27, 2015.

ABOUT GOL LINHAS AÉREAS INTELIGENTES S.A.

GOL Linhas Aéreas Inteligentes S.A. (BMF&BOVESPA: GOLL4 and NYSE: GOL), the largest low-cost and best-fare airline in Latin America, offers around 910 daily flights to 71 destinations, 15 international, in South America, the Caribbean and the United States, using a young, modern fleet of Boeing 737-700 and 737-800 Next Generation aircraft, the safest, most efficient and most economical of their type. The SMILES loyalty program allows members to accumulate miles and redeem tickets to more than 700 locations around the world via flights with foreign partner airlines. The Company also operates Gollog, a logistics service which retrieves and delivers cargo and packages to and from more than 3,500 cities in Brazil and six abroad. With its portfolio of innovative products and

services, GOL Linhas Aéreas Inteligentes offers the best cost-benefit ratio in the market.

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GOL Linhas Aéreas Inteligentes S.A

Notice to the Market



Investor Relations

ri@golnaweb.com.br
www.voegol.com.br/ri

+55(11)2128-4700

This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of GOL. These are merely projections and, as such, are based exclusively on the expectations of GOL's management Such forwardlooking statements depend, substantially, on external factors, in addition to the risks disclosed in GOL's filed

disclosure documents and are, therefore, subject to change without prior notice.

Contact•s Edmar Lopes • Eduardo Masson • Thiago Stanger

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GOL Linhas Aéreas Inteligentes S.A

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