Azul S A : 1Q23 Financial Statements

Interim Condensed - ITR

Individual and Consolidated

AZUL S.A.

March 31, 2023

with independent auditor's report on the

review of interim condensed individual and consolidated financial statements- ITR

Contents

Declaration of the officers on the interim condensed individual and consolidated financial
statements	3
Declaration of the officers on the independent auditor's report on review of interim condensed
individual and consolidated financial statements	4
Summary report of the statutory audit committee	5
Independent auditor's report on the review of interim financial position	6

Statement of financial position	8
Statement of operations	10
Statement of comprehensive loss	11
Statement of changes in equity	12
Statement of cash flows	13
Statement of values added	14
Notes to the interim condensed individual and consolidated financial statements	15

AZUL S.A.

Declaration of the officers

March 31, 2023

Declaration of the officers on the interim condensed individual and consolidated financial statements

In compliance with item VI of article 27 of CVM Instruction No. 80, of March 29, 2022, the Officers declare that they have discussed, reviewed and agreed with the interim condensed individual and consolidated financial statements for the three months ended March 31, 2023.

Barueri, May 15, 2023.

John Peter Rodgerson

Chief Executive Officer

Alexandre Wagner Malfitani

Chief Financial and Investor Relations Officer

Antonio Flavio Torres Martins Costa

Chief Operating Officer

Abhi Manoj Shah

Chief Revenue Officer

____________________________________________________________________________ 3

AZUL S.A.

Declaration of the officers

March 31, 2023

Declaration of the officers on the independent auditor's report on the review of interim condensed individual and consolidated financial statements

In compliance with item VI of article 27 of CVM Instruction No. 80, of March 29, 2022, the Officers declare that they have discussed, reviewed and agreed with the conclusions expressed in the independent auditor's report on the of interim financial position for the three months ended March 31, 2023.

Barueri, May 15, 2023.

John Peter Rodgerson

Chief Executive Officer

Alexandre Wagner Malfitani

Chief Financial and Investor Relations Officer

Antonio Flavio Torres Martins Costa

Chief Operating Officer

Abhi Manoj Shah

Chief Revenue Officer

____________________________________________________________________________ 4

AZUL S.A.

Summary report of the statutory audit committee

March 31, 2023

Opinion of the statutory audit committee

All the members of the Audit Committee, considering the documents presented and the information and clarifications provided by the Company's Officers and by Ernst & Young Auditores Independentes S.S. Ltda., have reviewed the interim condensed individual and consolidated financial statements (ITR) for the three months ended March 31, 2023.

Based on this information, they have expressed a favorable opinion on the interim condensed individual and consolidated financial statements (ITR) for the three months ended March 31, 2023, accompanied by the report on review of interim condensed individual and consolidated financial statements (ITR) to be issued by Ernst & Young Auditores Independentes S.S. Ltda., recommending its approval to the Board Directors.

Barueri, May 15, 2023.

Sergio Eraldo de Salles Pinto

Member, Coordinator of the Audit Committee and Financial Expert

Gilberto de Almeida Peralta

Member of the Audit Committee

Renata Faber Rocha Ribeiro

Member of the Audit Committee

____________________________________________________________________________ 5