GOL LINHAS AÉREAS INTELIGENTES S.A.

(“Publicly-held Company”)

CNPJ/MF nº 06.164.253/0001-87

NIRE 35.300.314.441

MINUTES OF THE BOARD OF DIRECTORS’ MEETING

HELD ON FEBRUARY 16, 2017

I. Date, Time and Place: February 16, 2017, at 02:30 p.m., on Praça Comte. Linneu Gomes, S/N, Portaria 3 – Prédio 15 – Meeting Room of the Board of Directors, Jardim Aeroporto, São Paulo, SP (“Company”). II. Calling and Attendance: Waived, due to the attendance of all the members of the Board of Directors. III. Presiding Board: Mr. Constantino de Oliveira Junior was the chairman of the meeting, and invited me, Richard Freeman Lark Jr., to act as secretary of the meeting. IV. Agenda: To pass the resolution on the following matters: (i) The approval of the Financial Statements of the Company for the fiscal year of 2016, with special revision by Ernst & Young Auditores Independentes S.S. (“EY”); (ii) the changing of the Depositary Bank for the “American Depositary Receipts” (“ADRs”) Program registered by the Company before the United States of America Securities and Exchange Commission (“SEC”); (iii) the approval of the execution of Amendment to the Deposit Agreement to reflect the new Depositary Bank in order to reflect the changing of the ratio of each ADRs; and (iv) the authorization for the Executive Officers to perform the necessary acts for compliance with the resolutions of the agenda. V. Resolutions: After the necessary explanations were provided, after detailed review of the documents referring to the matter hereof, were approved by unanimous vote: (i) the Financial Statements of the Company, including the Management Report, the Opinion issued by the Independent Auditors, all of them about the fiscal year 2016 (“Financial Statements”), which will be submitted to the Annual Shareholders Meeting, with the recommendation for the shareholders to approve the same. The Financial Statements duly approved and initialed by the Presiding Board, will be filed with the head-office and will be disclosed by the Company within the legal term; (ii) the changing of the Depositary Bank for the ADR Program registered by the Company before the SEC; (iii) the execution of an Amendment to the Deposit Agreement, to do the changing of the actual ratio of the preferred shares to each ADR of the Company, which will be submitted to CVM timely; and (iv) the authorization for the Executive Officers to perform the necessary acts for compliance with the resolutions of the agenda. VI. Suspension of the Meeting and Drawing-up of the Minutes: The floor was offered to whoever might wish to use it, and since nobody did so, the meeting was suspended for time necessary for these minutes to be drawn-up. Upon the reopening of the meeting, these minutes were read, checked and signed by the attendees. Signatures. Presiding Board: Constantino de Oliveira Junior – Chairman; Richard Freeman Lark Jr. – Secretary. Members of the Board of Directors: Constantino de Oliveira Junior, Ricardo Constantino, Joaquim Constantino Neto, William Charles Carroll, Antonio Kandir, Germán Pasquale Quiroga Vilardo, André Béla Jánszky, Anna Luiza Serwy Constantino and Francis James Leahy Meaney. I hereby certify that this is a faithful copy of the minutes that were drawn-up in the proper book.

São Paulo, February 16, 2017.