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Ownership Breakdown

The following graphic sets forth the ownership breakdown of GOL as of January 10, 2018.

ON PN
Common Shares % Preferred Shares % Total %*
Fundo de Investimento em Participações Volluto 2,863,682,150 100.00% 130,953,776 49.22% 2,994,635,926 61.16%
Delta Airlines - - 32,926,025 12.38% 32,926,025 9.46%
Other 560 0.00% 101,902,048 38.30% 101,902,608 29.30%
Treasury Shares - - 278,612 0.10% 278,612 0.08%
Total 2,863,682,710 100.00% 266,060,461 100.00% 3,129,743,171 100.00%

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