Azul issues Series 4 warrants for up to 6,929,564 shares, exercise price USD 3.14

• Azul’s board, acting by written consent at a May 21, 2026 digital meeting, moved to issue a new warrant series labeled Bônus de Subscrição – Série 4 as part of commitments under its Chapter 11 restructuring plan documents.
• The warrants, to be sold to American Airlines, United Airlines, and certain legacy creditors, would allow subscription of up to 6,929,564 common shares, equal to 1.89% of share capital excluding treasury stock.
• The board set a subscription price of BRL 0.000001 per warrant, an exercise price of USD 3.14 per share, and a one-year exercise window from delivery.
• It also set a May 26, 2026 record date for preemptive rights, with the exercise period running from May 27 to June 26, 2026, and authorized management to execute related ADS deposit arrangements and other implementation steps.

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