AZUL · Azul S.A.

Azul S.A. has completed a critical step in its reorganization by finalizing the issuance of subscription warrants approved under its Chapter 11 Plan. The company's Board of Directors ratified the exact quantities on April 14, 2026, following the initial approval on February 19, 2026. This involves three distinct series of warrants that will trade on the B3 exchange with specific ticker symbols: AZUL11 (4.8 trillion warrants), AZUL13 (886 billion warrants), and AZUL15 (1.2 trillion warrants). Trading is scheduled to commence on April 20, 2026. A significant complication arose because investors subject to the Chapter 11 Plan were restricted from exercising their preemptive rights to subscribe for these warrants. As a result, Azul must cancel any warrants improperly credited to these restricted parties and reimburse payments made. The company has established a process for affected investors, particularly those who acquired rights in the secondary market, to request reimbursement through a designated email address (bs@voeazul.com.br) with specific documentation requirements. This issuance represents a material corporate action tied directly to Azul's bankruptcy reorganization, with immediate implications for warrant holders and the company's capital structure.