<SEC-DOCUMENT>0001292814-19-002255.txt : 20190620
<SEC-HEADER>0001292814-19-002255.hdr.sgml : 20190620
<ACCEPTANCE-DATETIME>20190619181930
ACCESSION NUMBER:		0001292814-19-002255
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190630
FILED AS OF DATE:		20190620
DATE AS OF CHANGE:		20190619

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
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36165
		FILM NUMBER:		19907066

	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
<SEQUENCE>1
<FILENAME>ambevsa20190618_6k6.htm
<DESCRIPTION>NOTICE OF CAPITAL INCREASE APPROVED BY THE BOARD OF DIRECTORS
<TEXT>

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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</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 June, 2019 </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 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>

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<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 15pt" face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 15pt" face="times new roman">AMBEV S.A.</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 15pt" face="times new roman">CNPJ/ME No. 07.526.557/0001-00</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 15pt" face="times new roman">NIRE 35.300.368.941</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 15pt" face="times new roman">(&#8220;</FONT><U><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 15pt" face="times new roman">Company</FONT></U><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 15pt" face="times new roman">&#8221;)</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">NOTICE OF CAPITAL INCREASE APPROVED BY THE BOARD OF DIRECTORS </FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">(</FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">Pursuant to Exhibit 30-XXXII of Brazilian Securities and Exchange Commission&#8217;s Normative Ruling No. 480/09</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">)</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">On June 19<SUP>th</SUP>, 2019 at 5:00 pm, the Board of Directors verified the issuance of new common shares, whitin the authorized capital limit, as a result of the exercise by certain beneficiaries of options granted by </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">Companhia de Bebidas Das Am&#233;ricas &#8211; AmBev </FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">on July 30<SUP>th</SUP>, 2009, received by the Company under the Migration Program, as approved by the Board of Directors on July 31<SUP>st</SUP>, 2013, within the scope of the Company&#8217;s Stock Option Plan approved by the Shareholders&#8217; General Meeting held on July 30<SUP>th</SUP>, 2013.</FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Date of approval of the stock option plan by the Shareholders&#8217; General Meeting </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">The Stock Option Plan was approved by the Shareholders&#8217; General Meeting held on on July 30<SUP>th</SUP>, 2013.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Capital Increase Amount and New Capital Stock</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 8pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Capital increase amount</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 8pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">BRL 152,073.61</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 8pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">New capital stock</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 8pt" align=right><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">BRL 57,800,996,370.52</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amount of issued shares per type and class</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">44,475 new common shares with no par value.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">d.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Issuance price of the new shares</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

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<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 8pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Issuance price per price</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">BRL 3.41931</FONT></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">e.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Price for each of the issuer&#8217;s types and classes of shares in the respective markets in which the shares are negotiated, identifying:</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 71.45pt; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">i.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">Lower, average and highest market price on each of the last three (3) years </FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

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<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Price <SUP>(1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">2018</FONT></B></P>

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">2017</FONT></B></P>

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">2016</FONT></B></P>

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Lower</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">14.70</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">15.36</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">14.76</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Average</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">19.25</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.15</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.05</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="31%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Highest</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">23.58</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">21.11</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="23%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.47</FONT></P></TD></TR></TABLE></DIV></DIV>

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<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10.5pt; LINE-HEIGHT: normal" face="times new roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">Historical price adjusted in order to reflect payments of interest on shareholder&#8217;s equity, as well as dividend distributions.</FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt 21.3pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 71.45pt; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">ii.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">Lower, average and highest price on each quarter of the last two (2) years</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 71.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

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   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Price <SUP>(1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">1Q2019</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">4Q2018 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">3Q2018 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">2Q2018 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">1Q2018 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">4Q2017 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">3Q2017 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">2Q2017 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Lower</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.15</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">14.70</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.55</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.59</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">20.88</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">19.27</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.96</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.66</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Average</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.48</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.12</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.42</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">20.56</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">21.84</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">20.02</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.79</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.50</FONT></P></TD></TR>

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   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Highest</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.75</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.06</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">19.49</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="12%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">23.51</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">23.58</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">21.11</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">20.53</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="11%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.74</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">(1) Historical price adjusted in order to reflect payments of interest on shareholder&#8217;s equity, as well as dividend distributions.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 71.45pt; TEXT-INDENT: -0.5in"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">iii.</FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">Lower, average and highest price on each month of the last six (6) months</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

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<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="16%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Price <SUP>(1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">05/2019 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">04/2019 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">03/2019 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">02/2019 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">01/2019 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><B><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">12/2018 </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">(BRL)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="16%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Lower</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.49</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.77</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.37</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.23</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.15</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">15.10</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="16%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Average</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.26</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.50</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.83</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.34</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.25</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">15.67</FONT></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="16%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Highest</FONT></B></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.06</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="15%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.47</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.31</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="14%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.75</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">18.00</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="13%">

   <P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">16.40</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">Historical price adjusted in order to reflect payments of interest on shareholder&#8217;s equity, as well as dividend distributions.</FONT></P>

<P style="MARGIN: 0in 0in 0pt 35.45pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">iv.&nbsp;&nbsp; Average price on the last ninety (90) days</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt 35.45pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 8pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Price<SUP> (1)</SUP></FONT></B></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 8pt" align=right><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">90 days (BRL)</FONT></B></P></TD></TR>

<TR>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="MARGIN: 0in 0in 8pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Average</FONT></P></TD>

   <TD style="BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="50%">

   <P style="TEXT-ALIGN: right; MARGIN: 0in 0in 8pt" align=right><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">17.35</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0in 0in 0pt; TEXT-INDENT: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="times new roman">(1)</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt; LINE-HEIGHT: normal" face="times new roman"> </FONT><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">Historical price adjusted in order to reflect payments of interest on shareholder&#8217;s equity, as well as dividend distributions.</FONT></P>

<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT>&nbsp;</P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">f.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Potential dilution percentage arising from the issuance</FONT></B></P>

<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<DIV align=left>

<TABLE style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; WIDTH: 100%; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none" cellSpacing=0 cellPadding=0 border=0>



<TR>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; BORDER-LEFT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt" vAlign=top width="65%">

   <P style="MARGIN: 0in 0in 8pt"><FONT lang=EN-US style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">Dilution percentage</FONT></P></TD>

   <TD style="BORDER-TOP: windowtext 1pt solid; BORDER-RIGHT: windowtext 1pt solid; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="35%">

   <P style="MARGIN: 0in 0in 8pt"><FONT style="FONT-SIZE: 11pt; LINE-HEIGHT: 106%" face="times new roman">0.00028%</FONT></P></TD></TR></TABLE></DIV>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman"></FONT></B>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align=center><B><FONT lang=PT-BR style="FONT-SIZE: 11pt; LINE-HEIGHT: normal" face="times new roman">***</FONT></B></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;June 19, 2019</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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   <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>

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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">Fernando Mommensohn Tennenbaum</FONT></FONT></FONT></DIV></TD></TR>

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   <TD vAlign=middle width="51%" colSpan=2><FONT style="FONT-FAMILY: 'Times New Roman; FONT-SIZE: 8pt; DISPLAY: inline">&nbsp; </FONT></TD>

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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">Fernando Mommensohn Tennenbaum</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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