• Azul set May 27 for trading to begin in three series of subscription warrants issued under its Chapter 11 restructuring plan.
• Total issuance set at 4.81 trillion “Bônus de Subscrição American,” 886.29 billion “Bônus de Subscrição GUC,” 1.2 trillion “Bônus de Subscrição Investimento Adicional,” with the remaining balances allocated to American, a GUC trust, United, and other additional investors.
• Each 150,000 warrants in any series is exercisable for one common share following the company’s 150,000-to-1 reverse split settled on April 23.
• Board authorized up to 6,929,564 additional subscription warrants in a single new series to meet delivery obligations, with a subscription price of BRL 0.000001 per warrant and an exercise price of USD 3.14.
• Non-Chapter 11 shareholders on record May 26 receive preemptive rights to subscribe for the additional warrants from May 27 to June 26.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Azul SA published the original content used to generate this news brief on May 21, 2026, and is solely responsible for the information contained therein.