Azul Closes Global Offering by Selling Shareholders

Azul S.A. (B3: AZUL4), (NYSE:AZUL) has announced the closing of its previously announced follow-on offering by its selling shareholders of 40,630,186 of Azul´s preferred shares in a global offering, consisting of an international offering and a Brazilian offering, the company said.

The preferred shares were offered directly and in the form of American depositary shares, or ADSs, each of which represents three preferred shares. The Brazilian offering of 8,018,839 preferred shares and the international offering of 10,870,449 ADSs (representing 32,611,347 preferred shares) both closed on September 19, 2017.

One of the selling shareholders also granted the underwriters a 30-day option to purchase up to 4,063,019 additional preferred shares, which was exercised on September 15, 2017 with respect to 4,063,017 preferred shares in the form of 1,354,339 ADSs and closed today.

The global offering price was USD 26.75 per ADS.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Itau BBA USA Securities, Inc., Banco do Brasil Securities LLC, Banco Bradesco BBI S.A., J.P. Morgan Securities LLC, Raymond James & Associates, Inc. and Santander Investment Securities Inc., collectively acted as international underwriters with respect to the offering of the ADSs and (except for Banco Bradesco BBI S.A.) together with Bradesco Securities Inc. and Safra Securities LLC, as agents on behalf of the Brazilian underwriters with respect to the offering of preferred shares sold outside of Brazil.

Banco Itaú BBA S.A., Citigroup Global Markets Brasil, Corretora de Câmbio, Títulos e Valores Mobiliários S.A., Deutsche Bank S.A. — Banco Alemão, BB — Banco de Investimento S.A., Banco Bradesco BBI S.A., Banco J.P. Morgan S.A., Banco J. Safra S.A. and Banco Santander (Brasil) S.A. collectively acted as Brazilian underwriters with respect to the sale of preferred shares in the public offering with restricted placement efforts in Brazil.