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Ownership Breakdown

The following graphic sets forth the ownership breakdown of GOL as of October 17, 2017.

ON PN
Common Shares % Preferred Shares % Total %*
Delta Airlines - - 32,926,025 16.15% 32,926,025 9.47%
Fundo de Investimento em Participações Volluto 5,035,036,580 100.00% 68,915,078 33.81% 5,103,951,658 61.19%
Other 560 0.00% 101,739,019 49.91% 101,739,579 29.26%
Treasury Shares - - 278,612 0.14% 278,612 0.08%
Total 5,035,037,140 100.00% 203,858,734 100.00% 5,238,895,874 100.00%

*Considering the conversion standard: 1 preferred share = 35 common shares.