Smiles Fidelidade S A : Demonstrações Financeiras em Padrões Internacionais - Versão em Inglês

Parent Company and Consolidated Quarterly Information

Smiles Fidelidade S.A.

March 31, 2021

with Independent Auditors' Review Report

Smiles Fidelidade S.A.

Parent Company and Consolidated Quarterly Information (ITR)

March 31, 2021

Contents

Comments on the Performance.......................................................................................................................	3
Finance and Audit Committee's Report...........................................................................................................	5
Statement of the Executive Officers on the Parent Company and Consolidated Quarterly Information
(ITR)………………………………………………………………………………………………………………………………………………….……….. 6
Statement of the Executive Officers on the Independent Auditors' Review Report........................................	7
Review Report of the Independent Auditors on the Quarterly Information (ITR) ...........................................	8
Statements of Financial Position....................................................................................................................	10
Income Statements…………………… ...................................................................................................................	12
Statements of Comprehensive Income..........................................................................................................	13
Statements of Changes in Shareholders' Equity ............................................................................................	14
Cash Flow Statements…..................................................................................................................................15
Value Added Statements ...............................................................................................................................	16
Notes to the Parent Company and Consolidated Quarterly Information (ITR) ...............................................	17

Comments on the Performance

We started 2021 with a new chapter in Smiles' history: GOL's incorporation. From now on, together, Smiles and Gol will bring the most value from several operational synergies, create new opportunities, even more significant and strategic in the turbulent seas of a market deeply affected by the Covid-19 pandemic.

Unfortunately, after an upward trend, with indicators improving every month, the second wave was a new blow to the segment and made us, once again, adjust the operation to ensure the best possible experience for our customers in a scenario of drastic flight reduction and, therefore, directly affecting our indicators.

In parallel to this, Smiles has shown its strength and recorded about 6% growth in 1Q21 X 1Q20, totaling 18.5 million members. The GOL Smiles co-branded credit card, relaunched last year, also continues bringing great results, with a 9.6% increase in the active customer base compared 1Q 2020.

In operation, while our members are unable to safely fulfill the dream of traveling, we expand the opportunities for them to accumulate or redeem miles in the most convenient way and adapted to the moment. Shopping Smiles, our marketplace, remains with special offers drawn up with our retail partners to offer consumers even more benefits to redeem or accumulate their miles. In March, gross sales result (GMW), which is our main indicator, was nearly three times higher over March 2020. Over 40% of Smiles customer base has already made at least one purchase on our marketplace.

For those who needed to postpone their plans, we expanded our service channels and implemented, still in the pilot phase, the service via WhatsApp to reschedule flights, offering practicality and convenience to our customers. Another well-accepted feature was Meu Bonus Vip, for Smiles Club's members, which now allows transferring credit card points with up to 50% bonus - without relying on sales and with advantages according to the chosen plan.

We know we still have a long way to go, but we trust that the company's new phase will start another successful journey, with Smiles' preserved competitive advantages, leveraging new businesses and new opportunities, bringing together the strengths and value of both companies - Smiles and GOL - further intensifying the ecosystem and partnerships. We will be stronger to face our market's competitive challenges, capturing the entire business value.

To all those who, over the past eight years, have believed in Smiles' proposal and ability to make it happen, thank you very much.

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Highlights

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Finance and Audit Committee's Report

Smiles Fidelidade S.A.'s Audit and Finance Committee, under its powers, reviewed the parent company quarterly information (ITR) for the period ended March 31, 2021. Based on the procedures we have undertaken and the information and explanations we received during the period and taking into account the independent auditors' review report issued by Grant Thornton Auditores Independentes on April 26, 2021, we consider that these documents are fit to be submitted for consideration by the Board of Directors.

Barueri, April 26, 2021.

Constantino de Oliveira Junior

Member of the Audit Committee

André Coji

Member of the Audit Committee

Natan Szuster

Member of the Audit Committee

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