<SEC-DOCUMENT>0001292814-16-003346.txt : 20160115
<SEC-HEADER>0001292814-16-003346.hdr.sgml : 20160115
<ACCEPTANCE-DATETIME>20160115171225
ACCESSION NUMBER:		0001292814-16-003346
CONFORMED SUBMISSION TYPE:	6-K/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160331
FILED AS OF DATE:		20160115
DATE AS OF CHANGE:		20160115

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMBEV S.A.
		CENTRAL INDEX KEY:			0001565025
		STANDARD INDUSTRIAL CLASSIFICATION:	BEVERAGES [2080]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D5
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36165
		FILM NUMBER:		161346204

	BUSINESS ADDRESS:	
		STREET 1:		RUA DR. RENATO PAES DE BARROS, 1017
		STREET 2:		3 ANDAR PARTE
		CITY:			SAO PAULO
		STATE:			D5
		ZIP:			04530-000
		BUSINESS PHONE:		55(11)2122-1414

	MAIL ADDRESS:	
		STREET 1:		RUA DR. RENATO PAES DE BARROS, 1017
		STREET 2:		3 ANDAR PARTE
		CITY:			SAO PAULO
		STATE:			D5
		ZIP:			04530-000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	InBev Corporate Holdings Inc.
		DATE OF NAME CHANGE:	20121219
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K/A
<SEQUENCE>1
<FILENAME>ambevsacvm358nov2015_6ka.htm
<DESCRIPTION>CONSOLIDATED FORM
<TEXT>

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   <TITLE>ambevsacvm358nov2015_6ka.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Washington, D.C. 20549 </B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>FORM 6-K/A</B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Report of Foreign Private Issuer<BR>Pursuant to Rule 13a-16 or 15d-16 of the</FONT></DIV>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman">Securities Exchange Act of 1934</FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center>

<DIV><FONT color=#000000 size=3 face="Times New Roman"><B>For the month of January, 2016 </B></FONT></DIV>

<P align=justify></P><FONT color=#000000 size=3 face="Times New Roman"><B>Commission File Number 1565025</B></FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

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<DIV><FONT size=1></FONT>&nbsp;</DIV>

<CENTER></CENTER>

<P align=justify></P>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>AMBEV S.A. </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Exact name of registrant as specified in its charter) </FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center></DIV>

<P align=justify></P>

<DIV align=center><FONT color=#000000 size=5 face="Times New Roman"><B>AMBEV S.A. </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Translation of Registrant's name into English)</FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<P align=justify></P>

<DIV align=center><FONT color=#000000 size=3 face="Times New Roman"><B>Rua Dr. Renato Paes de Barros, 1017 - 3rd Floor <BR>04530-000 S&#227;o Paulo, SP<BR>Federative Republic of Brazil </B></FONT></DIV>

<DIV align=center><FONT color=#000000 size=2 face="Times New Roman">(Address of principal executive office)</FONT></DIV>

<DIV><FONT size=1></FONT>&nbsp;</DIV>

<DIV align=center>

<P><FONT color=#000000 size=3 face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.&nbsp; </FONT></P>

<P><FONT size=3 face="Times New Roman, Times, Serif"><BR>Form 20-F ___X___ Form 40-F _______</FONT> </P>

<P align=left>&nbsp;<FONT size=3 face="Times New Roman, Times, Serif">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. </FONT>&nbsp;</P><FONT size=3 face="Times New Roman, Times, Serif">Yes _______ No ___X____</FONT>

<P align=justify></P></DIV>

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<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0in 0pt 0in 0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">CONSOLIDATED FORM</font></b></font></p>

<p style="margin:0in 0pt 0in 0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">Management and Related Persons&#8217; Transactions of Securities Issued by the Company</font></b></font></p>

<p style="margin:0in 0pt 0in 0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">Article 11 - CVM Instruction # 358/2002</font></b></font></p>

<p style="margin:0in 0pt 0pt 0in;">&nbsp;</p>

<p style="margin:0in 21.15pt 0pt 0pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">In &nbsp;November, 2015 the only transactions with securities and derivatives were those presented below, in compliance with Article 11 - CVM Instruction # 358/2002</font></font><sup><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(1)</font></b></font></sup><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">:</font></font></p>

<p style="margin:0in 0in 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin-left:0in;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td colspan=14 width=100% style="border:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face="Times New Roman"><b><font style="font-size:10pt;">Company Name: Ambev S.A.</font></b></font></p></td>
 </tr>
<tr style="height:25.6pt;page-break-inside:avoid;">
  <td valign=top width=13% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Group and Related Persons</font></b></font></p></td>
 <td colspan=3 valign=top width=23% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">( )</font></b></font></p>

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Board of Directors</font></b></font></p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">( X )</font></b></font></p>

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Management</font></b></font></p></td>
 <td colspan=4 valign=top width=20% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">(</font></b></font><font face="Times New Roman"><font style="font-size:10pt;"> </font></font><font face="Times New Roman"><b><font style="font-size:10pt;">)</font></b></font></p>

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Fiscal Council</font></b></font></p></td>
 <td colspan=4 valign=top width=29% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">( )</font></b></font></p>

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Technical and Consulting Committees </font></b></font></p></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=14 width=100% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

<h1 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Initial Balance</font></b></font></h1></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td rowspan=2 width=13% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities / Derivatives</font></font></p></td>
 <td colspan=7 rowspan=2 width=44% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities Characteristics </font></font><sup><font face="Times New Roman"><b><font style="font-size:10pt;">(2)</font></b></font></sup></p></td>
 <td colspan=3 rowspan=2 width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Quantity </font></font></p></td>
 <td colspan=3 width=26% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">%</font></font></p></td>
 </tr>
<tr style="height:17.4pt;page-break-inside:avoid;">
  <td colspan=2 width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:17.4pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Same Class and Type</font></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:17.4pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Total</font></font></p></td>
 </tr>
<tr>
  <td valign=top width=13% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Shares</font></font></p></td>
 <td colspan=7 valign=top width=44% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=3 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">8,415,911</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0535</font></font></p></td>
 <td valign=top width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0535</font></font></p></td>
 </tr>
<tr>
  <td valign=top width=13% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">ADR (*)</font></font></p></td>
 <td colspan=7 valign=top width=44% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=3 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">552,830</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0035</font></font></p></td>
 <td valign=top width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0035</font></font></p></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=14 valign=top width=100% style="border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

<h1 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Transac</font></b></font><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">tions in the month</font></b></font></h1></td>
 </tr>
<tr>
  <td colspan=2 width=14% style="border:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities / Derivatives</font></font></p></td>
 <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities Characteristics <sup>(2)</sup></font></font></p></td>
 <td colspan=2 width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt 5.5pt;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Intermediary</font></font></p></td>
 <td colspan=2 width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Operation</font></font></p></td>
 <td colspan=2 width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Day</font></font></p></td>
 <td width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Quantity</font></font></p></td>
 <td colspan=2 width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Price R$</font></font></p></td>
 <td colspan=2 width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Volume (R$) </font></font><sup><font face="times new roman bold"><font lang=PT-BR style="font-size:10pt;">(3)</font></font></sup></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Shares</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Direct with the Company</font></font></p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Exerc Options</font></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">30</font></font></p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">286,225</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">9.3596</font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">2,678,951.51</font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">Total Buy</font></b></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">286,225</font></b></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;">&nbsp;</p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">2,678,951.51</font></b></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;">&nbsp;</p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;">&nbsp;</p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;">&nbsp;</p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Shares</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Ita&#250; Corretora</font></font></p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Sell</font></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">13</font></font></p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">500</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">19.01</font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">9,505.00</font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Shares</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Ita&#250; Corretora</font></font></p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Sell</font></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">13</font></font></p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">500</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">19.03</font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">9,515.00</font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Shares</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Ita&#250; Corretora</font></font></p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Sell</font></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">13</font></font></p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">15,000</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">19.04</font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">285,600.00</font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Shares</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">JP Morgan</font></font></p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Sell</font></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">27</font></font></p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font style="font-size:10pt;">300</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;"><font face="Times New Roman"><font style="font-size:10pt;">18.75</font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font style="font-size:10pt;">5,625.00</font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Shares</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">JP Morgan</font></font></p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Sell</font></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">27</font></font></p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font style="font-size:10pt;">14,200</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;"><font face="Times New Roman"><font style="font-size:10pt;">18.76</font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font style="font-size:10pt;">266,392.00</font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Shares</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">JP Morgan</font></font></p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Sell</font></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">27</font></font></p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font style="font-size:10pt;">7,500</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;"><font face="Times New Roman"><font style="font-size:10pt;">18.77</font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><font style="font-size:10pt;">140,775.00</font></font></p></td>
 </tr>
<tr>
  <td colspan=2 valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 valign=top width=13% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td colspan=2 valign=top width=15% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Total Sell</font></b></font></p></td>
 <td colspan=2 valign=top width=6% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;">&nbsp;</p></td>
 <td valign=top width=11% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 0pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">38,000</font></b></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:-21.3pt;">&nbsp;</p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0in 21.3pt;text-align:right;text-indent:0in;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">717,412.00</font></b></font></p></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=14 valign=top width=100% style="border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

<h1 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Final Balance</font></b></font></h1></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td rowspan=2 width=13% style="border:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities / Derivatives</font></font></p></td>
 <td colspan=7 rowspan=2 width=44% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities Characteristics </font></font><sup><font face="Times New Roman"><b><font style="font-size:10pt;">(2)</font></b></font></sup></p></td>
 <td colspan=3 rowspan=2 width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Quantity</font></font></p></td>
 <td colspan=3 width=26% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">%</font></font></p></td>
 </tr>
<tr style="height:17.4pt;page-break-inside:avoid;">
  <td colspan=2 width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:17.4pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Same Class and Type</font></font></p></td>
 <td width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:17.4pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Total</font></font></p></td>
 </tr>
<tr>
  <td valign=top width=13% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Shares</font></font></p></td>
 <td colspan=7 valign=top width=44% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=3 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">8,664,136</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0551</font></font></p></td>
 <td valign=top width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0551</font></font></p></td>
 </tr>
<tr>
  <td valign=top width=13% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">ADR (*)</font></font></p></td>
 <td colspan=7 valign=top width=44% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=3 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">552,830</font></font></p></td>
 <td colspan=2 valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0035</font></font></p></td>
 <td valign=top width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0035</font></font></p></td>
 </tr>
<tr>
  <td width=13%>&nbsp;</td>
 <td width=1%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=10%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=11%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=9%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0in 0in 0pt;">&nbsp;</p>

<p style="margin:0in 0in 0pt;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 0.25in;text-align:justify;text-indent:-0.25in;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(1) When filling in the form, delete the lines that do not have any information. If there is no acquisition/change in the position of any person in relation to Article 11 - CVM Instruction # 358/2002, send a statement with that information.</font></b></font></p>

<p style="margin:0in 20.7pt 0pt 0.25in;text-align:justify;text-indent:-0.25in;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 0.25in;text-align:justify;text-indent:-0.25in;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(2)&nbsp; Issue/Series, convertibility, simple, term, guaranties, type/class, among others.</font></b></font></p>

<p style="margin:0in 20.7pt 0pt 0.25in;text-align:justify;text-indent:-0.25in;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 0.25in;text-align:justify;text-indent:-0.25in;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(3)&nbsp; Quantity multiplied by price.</font></b></font></p>

<p style="margin:0in 20.7pt 0in 21.3pt;text-align:justify;text-indent:-21.3pt;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 28.35pt;text-align:justify;text-indent:-28.35pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">Note: These consolidated data must have information by group: Directors, Management (which have not been included in the Board of Directors), etc.</font></b></font></p>

<p style="margin:0in 20.7pt 0pt 28.35pt;text-align:justify;text-indent:-28.35pt;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 0in;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(*) Each ADR is equivalent to 1 (one) share.</font></b></font></p>

<p align=center style="margin:0in 13.5pt 0pt 0in;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 13.5pt 0pt 0in;text-align:center;">&nbsp;</p>

<p align=center style="margin:0in 13.5pt 0pt 0in;text-align:center;">&nbsp;</p>

<div>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div></div>

<hr align=center noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>
<a name="page_2"></a><div style="padding-left:0%;padding-right:0%;width:100%;">

<div>


<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">&nbsp;</font></font></p>


</div>
<p style="margin:0in;margin-bottom:.0001pt;margin-right:13.5pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p align=center style="margin:0in;margin-bottom:.0001pt;margin-right:13.5pt;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">CONSOLIDATED FORM</font></b></font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">Management and Related Persons&#8217; Transactions of Securities
Issued by the Company</font></b></font></p>

<p style="margin-bottom:0in;margin-left:0in;margin-right:0pt;margin-top:0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">Article 11 - CVM Instruction # 358/2002</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:0pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:12.0pt;">&nbsp;</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-left:0pt;margin-right:20.55pt;margin-top:0in;"><font face="Times New Roman"><font lang=EN-US style="font-size:10.0pt;">In
&#160;November, 2015 the only transactions with securities and derivatives were
those presented below, in compliance with Article 11 - CVM Instruction #
358/2002</font></font><sup><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">(1)</font></b></font></sup><font face="Times New Roman"><font lang=EN-US style="font-size:10.0pt;">:</font></font></p>

<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></font></p>

<div align=left><table cellpadding=0 cellspacing=0 border=0 style="border:none;border-collapse:collapse;margin-left:0in;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td colspan=8 width=100% style="border:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman"><b><font style="font-size:10.0pt;">Company Name: Ambev S.A.</font></b></font></p>
  </td>
 </tr>
<tr style="height:25.6pt;page-break-inside:avoid;">
  <td valign=top width=14% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:25.6pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10.0pt;">Group and related persons</font></b></font></p>
  </td>
 <td valign=top width=23% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:25.6pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10.0pt;">( X ) Board of Directors</font></b></font></p>
  </td>
 <td valign=top width=14% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:25.6pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10.0pt;">(    ) Management </font></b></font></p>
  </td>
 <td colspan=2 valign=top width=18% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:25.6pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10.0pt;">(   ) Fiscal Council </font></b></font></p>
  </td>
 <td colspan=3 valign=top width=31% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:25.6pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10.0pt;">(   ) Technical and Consulting Committees
  </font></b></font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=8 width=100% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <h1 style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman"><b><font lang=X-NONE style="font-size:10.0pt;">Initial Balance</font></b></font></h1>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td rowspan=2 width=14% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Securities / Derivatives</font></font></p>
  </td>
 <td colspan=3 rowspan=2 width=41% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Securities Characteristics </font></font><sup><font face="Times New Roman"><b><font style="font-size:10.0pt;">(2)</font></b></font></sup></p>
  </td>
 <td colspan=2 rowspan=2 width=17% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">Quantity </font></font></p>
  </td>
 <td colspan=2 width=28% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">%</font></font></p>
  </td>
 </tr>
<tr style="height:17.4pt;page-break-inside:avoid;">
  <td width=12% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:17.4pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Same Class and Type </font></font></p>
  </td>
 <td width=16% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:17.4pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">Total</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=14% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">Shares </font></font></p>
  </td>
 <td colspan=3 valign=top width=41% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">Common</font></font></p>
  </td>
 <td colspan=2 valign=top width=17% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">25,213,286</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">0.1604</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">0.1604</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=14% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">ADR (*)</font></font></p>
  </td>
 <td colspan=3 valign=top width=41% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">Common</font></font></p>
  </td>
 <td colspan=2 valign=top width=17% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">16,258,039</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">0.1034</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">0.1034</font></font></p>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=8 valign=top width=100% style="border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <h1 style="margin:0in;margin-bottom:.0001pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10.0pt;">Final Balance</font></b></font></h1>
  </td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td rowspan=2 width=14% style="border:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Securities / Derivatives </font></font></p>
  </td>
 <td colspan=3 rowspan=2 width=41% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Securities Characteristics </font></font><sup><font face="Times New Roman"><b><font style="font-size:10.0pt;">(2)</font></b></font></sup></p>
  </td>
 <td colspan=2 rowspan=2 width=17% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Quantity</font></font></p>
  </td>
 <td colspan=2 width=28% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;border-top:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">% </font></font></p>
  </td>
 </tr>
<tr style="height:17.4pt;page-break-inside:avoid;">
  <td width=12% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:17.4pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Same Class and Type</font></font></p>
  </td>
 <td width=16% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;height:17.4pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Tot</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">al</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=14% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Shares </font></font></p>
  </td>
 <td colspan=3 valign=top width=41% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Common </font></font></p>
  </td>
 <td colspan=2 valign=top width=17% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">25,213,286</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">0.1604</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">0.1604</font></font></p>
  </td>
 </tr>
<tr>
  <td valign=top width=14% style="border-bottom:solid windowtext 1.0pt;border-left:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">ADR (*)</font></font></p>
  </td>
 <td colspan=3 valign=top width=41% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10.0pt;">Common</font></font></p>
  </td>
 <td colspan=2 valign=top width=17% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=right style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">16,258,039</font></font></p>
  </td>
 <td valign=top width=12% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">0.1034</font></font></p>
  </td>
 <td valign=top width=16% style="border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt;padding:0in 3.5pt 0in 3.5pt;">
  <p align=center style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">0.1034</font></font></p>
  </td>
 </tr>
<tr height=0>
  <td width=14%>&nbsp;</td>
 <td width=23%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=4%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
 </tr>
</table></div>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">(1) When filling in the form, delete the lines that do
not have any information. If there is no acquisition/change in the position of
any person in relation to Article 11 - CVM Instruction # 358/2002, send a
statement with that information.</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">(2)&#160; Issue/Series, convertibility, simple, term,
guaranties, type/class, among others.</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">(3)&#160; Quantity multiplied by price.</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="margin-bottom:.0001pt;margin-left:0in;margin-right:20.7pt;margin-top:0in;text-align:justify;text-indent:0in;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">Note: These consolidated data must have information by
group: Directors, Management (which have not been included in the Board of
Directors), etc.</font></b></font></p>

<p style="margin-bottom:.0001pt;margin-left:28.35pt;margin-right:20.55pt;margin-top:0in;text-align:justify;text-indent:-28.35pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">(*) Each ADR is equivalent to 1 (one) share.</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">&nbsp;</font></b></font></p>

<p style="margin:0in;margin-bottom:.0001pt;margin-right:20.7pt;text-align:justify;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10.0pt;">Note: Form resubmitted in January&nbsp; 15, 2016 with
the exclusion, only on the Board of Directors&nbsp;table, of the shares and
ADRs&nbsp;held by the controlling shareholders of the Company (Ambrew S.A.,
Interbrew International B.V. and Funda&#231;&#227;o Antonio e Helena Zerrenner INB). For
more information about the participation of our controlling shareholders,
please see our Reference Form or 20-F.</font></b></font></p>





<div>


<p style="margin:0in;margin-bottom:.0001pt;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10.0pt;">&nbsp;</font></font></p>


</div>
</div><hr align="center" noshade size=2 width="100%">

<div style="page-break-before:always;">&nbsp;</div>
<a name="page_3"></a>

<div style="padding-left:0%;padding-right:0%;">

<div>

<p style="margin:0in 0in 0pt;">&nbsp;</p></div>

<p style="margin:0in 0pt 0in 0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">CONSOLIDATED FORM</font></b></font></p>

<p style="margin:0in 0pt 0in 0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">Management and Related Persons&#8217; Transactions of Securities Issued by the Company</font></b></font></p>

<p style="margin:0in 0pt 0in 0in;text-align:center;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">Article 11 - CVM Instruction # 358/2002</font></b></font></p>

<p align=center style="margin:0in 13.5pt 0pt 0in;text-align:center;">&nbsp;</p>

<p style="margin:0in 0pt 0pt 0in;">&nbsp;</p>

<p style="margin:0in 20.55pt 0pt 0pt;"><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">In November, 2015 the only transactions with securities and derivatives were those presented below, in compliance with Article 11 - CVM Instruction # 358/2002</font></font><sup><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(1)</font></b></font></sup><font face="Times New Roman"><font lang=EN-US style="font-size:10pt;">:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></p>

<p style="margin:0in 20.55pt 0pt 0pt;">&nbsp;</p>

<div align=left>

<table cellpadding=0 cellspacing=0 border=0 style="border-bottom:medium none;border-left:medium none;border-right:medium none;border-top:medium none;margin-left:0in;width:100%;">
 <tr style="page-break-inside:avoid;">
  <td colspan=8 width=100% style="border:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p style="margin:0in 0in 0pt;"><font face="Times New Roman"><b><font style="font-size:10pt;">Company Name: Ambev S.A.</font></b></font></p></td>
 </tr>
<tr style="height:25.6pt;page-break-inside:avoid;">
  <td valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">Group and related persons</font></b></font></p></td>
 <td valign=top width=23% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">( ) Board of Directors</font></b></font></p></td>
 <td valign=top width=14% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">( ) Management </font></b></font></p></td>
 <td colspan=2 valign=top width=18% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">(X) Fiscal Council </font></b></font></p></td>
 <td colspan=3 valign=top width=31% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:25.6pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">( ) Technical and Consulting Committees </font></b></font></p></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=8 width=100% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

<h1 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman"><b><font lang=PT-BR style="font-size:10pt;">Initial Balance</font></b></font></h1></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td rowspan=2 width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities / Derivatives</font></font></p></td>
 <td colspan=3 rowspan=2 width=41% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities Characteristics </font></font><sup><font face="Times New Roman"><b><font style="font-size:10pt;">(2)</font></b></font></sup></p></td>
 <td colspan=2 rowspan=2 width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Quantity </font></font></p></td>
 <td colspan=2 width=28% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">%</font></font></p></td>
 </tr>
<tr style="height:17.4pt;page-break-inside:avoid;">
  <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:17.4pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Same Class and Type </font></font></p></td>
 <td width=16% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:17.4pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Total</font></font></p></td>
 </tr>
<tr>
  <td valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Shares </font></font></p></td>
 <td colspan=3 valign=top width=41% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">Common</font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">7,225</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0000</font></font></p></td>
 <td valign=top width=16% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0000</font></font></p></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td colspan=8 valign=top width=100% style="border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

<h1 style="margin:0in 0in 0pt;page-break-after:avoid;text-align:center;"><font face="Times New Roman"><b><font style="font-size:10pt;">Final Balance</font></b></font></h1></td>
 </tr>
<tr style="page-break-inside:avoid;">
  <td rowspan=2 width=14% style="border:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities / Derivatives </font></font></p></td>
 <td colspan=3 rowspan=2 width=41% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Securities Characteristics </font></font><sup><font face="Times New Roman"><b><font style="font-size:10pt;">(2)</font></b></font></sup></p></td>
 <td colspan=2 rowspan=2 width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Quantity</font></font></p></td>
 <td colspan=2 width=28% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;border-top:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">% </font></font></p></td>
 </tr>
<tr style="height:17.4pt;page-break-inside:avoid;">
  <td width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:17.4pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Same Class and Type</font></font></p></td>
 <td width=16% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;height:17.4pt;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Tot</font></font><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">al</font></font></p></td>
 </tr>
<tr>
  <td valign=top width=14% style="border-bottom:windowtext 1pt solid;border-left:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Shares </font></font></p></td>
 <td colspan=3 valign=top width=41% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font style="font-size:10pt;">Common </font></font></p></td>
 <td colspan=2 valign=top width=17% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=right style="margin:0in 0in 0pt;text-align:right;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">7,225</font></font></p></td>
 <td valign=top width=12% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0000</font></font></p></td>
 <td valign=top width=16% style="border-bottom:windowtext 1pt solid;border-right:windowtext 1pt solid;padding-bottom:0in;padding-left:3.5pt;padding-right:3.5pt;padding-top:0in;">

   <p align=center style="margin:0in 0in 0pt;text-align:center;"><font face="Times New Roman"><font lang=PT-BR style="font-size:10pt;">0.0000</font></font></p></td>
 </tr>
<tr>
  <td width=14%>&nbsp;</td>
 <td width=23%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=4%>&nbsp;</td>
 <td width=14%>&nbsp;</td>
 <td width=3%>&nbsp;</td>
 <td width=12%>&nbsp;</td>
 <td width=16%>&nbsp;</td>
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<p style="margin:0in 20.7pt 0pt 18.15pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 18.15pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 18.15pt;text-align:justify;text-indent:-0.25in;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(1)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">When filling in the form, delete the lines that do not have any information. If there is no acquisition/change in the position of any person in relation to Article 11 - CVM Instruction # 358/2002, send a statement with that information.</font></b></font></p>

<p style="margin:0in 0in 0pt;text-align:justify;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 18.15pt;text-align:justify;text-indent:-0.25in;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(2)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">Issue/Series, convertibility, simple, term, guaranties, type/class, among others.</font></b></font></p>

<p style="margin:0in 0in 0pt 0.25in;text-align:justify;text-indent:-0.25in;">&nbsp;</p>

<p style="margin:0in 20.7pt 0pt 18.15pt;text-align:justify;text-indent:-0.25in;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">(3)</font></b></font><font face="times new roman"><b><font lang=EN-US style="font-size:7pt;">&nbsp;&nbsp;&nbsp;&nbsp; </font></b></font><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">Quantity multiplied by price.</font></b></font></p>

<p style="margin:0in 0in 0in 28.35pt;text-align:justify;text-indent:-28.35pt;">&nbsp;</p>

<p style="margin:0in 20.55pt 0pt 28.35pt;text-align:justify;text-indent:-28.35pt;"><font face="Times New Roman"><b><font lang=EN-US style="font-size:10pt;">Note: These consolidated data must have information by group: Directors, Management (which have not been included in the Board of Directors), etc.</font></b></font></p>

<p style="margin:0in 20.55pt 0pt 28.35pt;text-align:justify;text-indent:-28.35pt;">&nbsp;</p>

<p style="margin:0in 20.55pt 0pt 0in;text-align:justify;">&nbsp;</p></div>

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<DIV style="TEXT-ALIGN: center; DISPLAY: block; TEXT-INDENT: 0pt"><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline"><FONT style="FONT-WEIGHT: bold; DISPLAY: inline"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">SIGNATURE</FONT></FONT></FONT></DIV><FONT style="FONT-SIZE: 9pt" face="Times New Roman"><BR></FONT>

<DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></FONT></DIV>

<DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-SIZE: 9pt" face="Times New Roman"></FONT>&nbsp;</DIV>

<DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=justify></DIV>

<DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline"><FONT style="FONT-SIZE: 9pt" face="Times New Roman">Date:&nbsp;January 15, 2016</FONT></FONT></DIV>

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   <TD vAlign=middle width="49%"><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

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   <TD vAlign=middle width="49%"><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

   <TD vAlign=middle width="51%" colSpan=2 align=left>

   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline">AMBEV S.A. </FONT></DIV></TD></TR>

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   <TD vAlign=middle width="49%"><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD></TR>

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   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline">By:&nbsp; </FONT></DIV></TD>

   <TD style="BORDER-BOTTOM: black 2px solid" vAlign=middle width="49%" align=left>

   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline">/s/ <FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline"><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline">Ricardo Rittes de Oliveira Silva</FONT></FONT></FONT></DIV></TD></TR>

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   <DIV style="DISPLAY: block; TEXT-INDENT: 0pt"><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: normal; DISPLAY: inline">Ricardo Rittes de Oliveira Silva</FONT></DIV>

   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left>

   <DIV style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align=left><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 10pt; DISPLAY: inline">Chief Financial and Investor Relations Officer</FONT></DIV></DIV></TD></TR></TABLE></DIV></DIV>

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