Azul Announces Expected Settlement Date for the Previously Announced Exchange Offers of Certain Existing Notes for New Notes and the Solicitations of Consents to Proposed Amendments to the Existing Indentures

SAO PAULO, July 12, 2023 /PRNewswire/ -- Azul S.A., "Azul," (B3: AZUL4, NYSE: AZUL) ("Azul") today announces the expected settlement date (the "Settlement Date") in connection with the previously announced: (i) separate offers by its wholly-owned subsidiary Azul Investments LLP (the "Existing Notes Issuer") to Eligible Holders (as defined below) to exchange (such offers, the "Exchange Offers") (a) any and all of the outstanding 5.875% Senior Notes due 2024 issued by the Existing Notes Issuer (the "Existing 2024 Notes") for newly issued 11.500% Senior Secured Second Out Notes due 2029 to be issued by Azul Secured Finance LLP (the "New Notes Issuer") (the "New 2029 Notes"), and (b) any and all of the outstanding 7.250% Senior Notes due 2026 issued by the Existing Notes Issuer (the "Existing 2026 Notes" and, together with the Existing 2024 Notes, the "Existing Notes") for newly issued 10.875% Senior Secured Second Out Notes due 2030 to be issued by the New Notes Issuer (the "New 2030 Notes," and together with the New 2029 Notes, the "New Notes"), and (ii) solicitation of consents by the Existing Notes Issuer from Eligible Holders to certain proposed amendments to the terms of the Existing Notes (the "Solicitations"). The Exchange Offers and the Solicitations are being made pursuant to the terms and subject to the conditions set forth in the confidential exchange offering memorandum and consent solicitation statement, dated June 13, 2023, in respect of the Exchange Offers and Solicitations (the "Offering Memorandum").