Gol Linhas Aéreas Inteligentes (GOLL54) investor relations material

Executive summary

• Delivered first full quarter results post-Chapter 11, with robust network, optimized fleet, and streamlined costs driving healthy top line, margin expansion, and accelerated deleveraging.

• Operational fleet expanded to 120 aircraft, supporting increased capacity and international growth.

• Maintained leadership in on-time performance in Brazil and recognized as a top airline brand, with top punctuality rankings in Latin America.

• Margin expansion achieved across business units, with sustainable EBITDA and net income turning positive.

• Abra Group increased investment and became controlling shareholder, supporting profitable growth and long-term value creation.

Financial highlights

• Net revenue up 11.6% year-over-year, reaching R$5.5 billion for the quarter and R$16 billion year-to-date.

• Adjusted/recurring EBITDA reached R$1.6 billion, up 46% year-over-year, with margin expanding to 29.7%, a seven-point increase.

• Net leverage reduced to 3.2x, down 2.1 turns year-over-year; liquidity at R$5.4 billion, about 25% of last twelve months' revenue.

• Net income was R$248 million, reversing a R$1,420 million loss in 3Q24; net margin improved to 4.5%.

• RASK and PRASK grew 2.5% and 3.2% year-over-year; CASK down 0.5–0.7%, with CASK ex-fuel up 4.7%.

Outlook and guidance

• Updated full-year EBITDA guidance to R$5.8–6.1 billion, with net leverage expected in the 3.4–3.6x range by year-end.

• Preparing for the largest summer high season in history, with 65,000 domestic and 5,200 international flights planned.

• Focus on sustainable revenue growth, further deleveraging, and continued expansion of international and domestic routes.

• No major changes to long-term strategy; maintaining ASK growth with flexibility between domestic and international markets.