Azul S.A. Chapter 11 Update (Form 6-K)

Azul reached a significant milestone by agreeing with the Unsecured Creditors Committee on the Plan of Reorganization.

Key investor takeaways:

• Creditors receive recovery via cash (up to $20M) or interest in a GUC Trust.
• The Company commits warrants for up to 5.5% of post-emergence equity (based on $3.8B valuation) to the GUC Trust.
• The Trust is also eligible for contingent annual payments ($6.5M max each) through 2029 if performance targets are met.
• A revised Plan and Disclosure Statement were filed with the Court.

T