Aliansce Shopping Centers : Acquisition of Relevant Shareholder Ownership

Rio de Janeiro, October 31, 2016 - Aliansce Shopping Centers S.A. ("Aliansce" or "Company") (Bovespa: AL"C3), pursuant to CVM Instruction 358 of January 3, 2002, as amended, hereby announces that it has received today, from Aspirational, LLC ("Aspiracional"), a limited liability company managed by Jaguar Real Estate Partners, L.P. ("Jaguar"), with headquarters at 390 Park Avenue, Suite 400, New York, NY 10022, the attached letter, with the following information:

1. Aspiracional has subscribed and paid in for 11,006,498 new common shares of the Company in the context of the Capital Increase, which correspond to 5.43% of the total issued and outstanding share capital of Aliasnce after the Capital Increase;

2. Aspiracional currently does not intend to change the Company's control;

3. As informed in the Material Fact of September 8, 2016, a shareholders' meeting will be called no later than one month after the conclusion of the Capital Increase, to resolve on the election of a Board member to be appointed by Jaguar. Canada Pension Plan Investment Board, Renato Feitosa Rique, Rique Empreendimentos e Participações Ltda., RFR Empreendimentos e Participações S.A. e o Fundo de Investimento em Participações Bali have agreed to vote in favor of the election of the board member to be appointed by Jaguar, as well as in the Company's Annual "hareholders' Meeting to be held no later than April 30, 2017 to resolve about the reelection of such member.

   For more information, please contact the Investor Relations department.

   INVESTOR RELATIONS

   Telephone: +55 (21) 2176-7272 ri@aliansce.com.br www.aliansce.com.br/ri

   About Aliansce S.A.

   Aliansce Shopping Centers S.A. (Bovespa: ALSC3) is one of the leading companies of the Shopping Mall industry and the second largest administrator of Shopping Malls in Brazil in number of administrated malls, among publicly-held corporations of the industry. Aliansce's main activities are the holding of interests in "hopping Malls and the provision of the following services: (i) administration of Shopping Malls; (ii) commercialization of spaces in Shopping Malls; and (iii) planning and development of Shopping Malls. The Company is a full-service company acting throughout all steps of implementation of Shopping Malls, from planning, development of the project, launching of the Shopping Mall until management of the structure and financial, commercial, legal and operational management.

   Aspiucional, .ll.C

   390 P:ttk Avenue

   SUlte 400

   New Yo'*, NY 10022

   New York, October 28,20lG.

   'fo

   ALIANSCS SHOPPING C€NTERSS.A.

   Rua Dias Fc-rrci.ra J90,Room 301, Jtd Ooor Rii) deJariciro, RJ

   Actrolion; Eduardo Prado Lopes Filho

   ln/'t'$tOr Relations Officer

   Ref. Fin !Poi1,i9 11 iQ,1he Alian s c c•s C:apit:a1 Srock :tftcr C 1 p11:i.l Joe

   Oe2r S1t,

   Pt1.rsua.t1t to acticlc 12 of CVM lmuruc-rion No. 358/02. ai!. amend ('1CVM 3 58 ' '),the undcrsi OO• .t${'.)incl:Ottal. U.C ("Aspiracional '),:a limited b:1.h1luy oomp:i.uy u>anagtReal Est:atc J>.3nncrs, l..P., i.n addjtiou to lhc lcucr sent co Aliansce Shoppmg Cen1 $.A. ('''.Gomn.1ny" or "A!iti ") and disdoi1cd by the Compt,1'1}' i:n I.he.: Notic;c.", w the Market da1cd m of Sep,cmbet 15, 2015 _01iS,('..1.Q,Jh£..k') and in :acoord:wcc WJth Aspir.1¢1()1}ill'$ einmnnt;.(1l tQ U1w:H m the- -oapit.l inctc:lsc of Ahsce («Q{)J.mJ.t!hereby informs th:at Aspir:u::aofl:'11 ha..:: subd :md p.lid in for I LOOG.498 1tew comm.or, $h-.w:s of the Cin chc- context of the C::ipi Incmc$t;. whlcb coriespood to i,43% of the toml : -.:ucd 111d ()t1tattdiog sh:are capit of Afunscc 1ft,ct d)c Cll.p.1(. al Jnetta:.c.-.

   Plc;t.o;c. find lx-Jlow ch $p.infotmatlon tt"{uitcby t h1,; :m ic1e 1Z of lCVM-35-8:

   • N.tmt and qu.alification of the announcer:

     AspimcionU, Ll,C, :a com1.):t1y ()tga.ni'M'-I.! aod existing under the l:aws of 1h(; Sci1c ()( Dcl;;iw.rt', United States of Amcric.t, with hc.1(1 nft10C:S :tt 590 Parl.. Avenue,. Suite 400.Ne"'York, NY 10022,cnrolkd \>ith the CNJ>J/MF under No.25_103.07/00()1 50.

   • Ob_jt:ctivc.- of the panicip:u. ioo .tud t ted q_uantil)•, cont:iining, as the C..lSE:. may Qe, a statt.me.ot by tbc- announcer that the: acquisicfom do not aim at ehauf',Ulg the composition of C()nto1 ()r- cbe .administr.i.ti'c strucwrc of the. Company:

     Aspu:ac1-.:::i l currently dnot inteod w ch2ngc. the Compan)"s control.

     Whh rtspcet. or the folc:otion of AspmtcioruJ to c.bn 1tge the ,u:lrojnim:uivc structure of die

     Company. Aspitadonal intends to-:ippolnc a ffiul,er lo the Company•s Bo:itd of Di.rcccOtS.

     Put Ur'll 10 .1:1 'investtm:nt agreement .in acconbnce wtth tnfonnadoo alrt>ady by the Comp:Uly oo 1he Notict- to the Market, Alia.nsce commmcd 10 U =su,a hattholdcr:; meclllg for d)e ek«;llvo of a Board member ppolnrcd by Aspk.i.cional ('"tl: tmordinuvShareholders Mc.-cdng").

   • Number of shares and othc.r -secu.r.aue$ or dttivatfre instruments related to company shatts, either of cash or physical liquidation,di.SC10$ing the mount, chlSS: and type of related shares-:

Ur11 the r.:iti.fk.-ation of the C..apit:tl lncrc:i.sc by Alnnsc,e's 8.'>:utl of D.i.recton;._, Aspir.acion:tl \.-ill

ov.n 11.006.498 common sh.a.tCS i.ssucd by ihc r..ompan)", rcpreseoong 5,43"/o of the w1 l 1$

-:1uU >tit.standing rul.K' c2pit:tl of AU1t1scc;. t:ipir.-ciooal do('S not hold 'fflJ other s.ccuriutct

issued b}' A11:ius,.

• Indicationof any -agttcmcnu or r:tgulatiog the. c.xcrcisc of ,·oring

  rights or the purchase or: salt': of st-curititi. U.$ucd by the Comp:tny:

  ts infonneinthe Notice to the M.a.rkc1 i11 :i voting oommitment agreement, C:3.0acb J)cnsion fun lnvcs1mm, Ho2.rd :md Reo.ato Feitosa Riquc undertook f() w,1 in (2.vor o( tbe election of lhc membt'r nominated by Aspiodon:al in tlJe .futraordio:uy Sh:ateboldc:ts !vkc:ttng :iod In the

  :.t".'lnu2f hhold«1i m.ec-ting to be held i.n2017.

• In case the announcer is tes.idtnt md domiciled abroad, name and f,er numbet of its: attorney-in-fact or legal represen tive: in the country, for purpo,;cs of Anick: 119of Law no.6,404/76:

.A.i;pinu:iona.l'lii kgal r-c:presem.irivin 81'37.JI, for t>wpo:st:s of Anicle 119 of Law oo. G,4()-1-/76. L

JC:W Unih:anco S.A., Pm Alfrt'do [ dio de Souza Ac.'lllh:1,100, i,,1? 01,,-SP, Br.i.zil. and

cmoU oo w;,h the CNPJ/U' uncla- J.60.70.190/0001-04.

Finlly, wrt;you to forward dns infoml21i()n ro the market in -accordance wid1 ICVM

358.

Should yoo h:ive :i.uy further question or co-mmcoL(rtl IIH ::above.please do not hc:..it:.rc to

eoornct vs.

Siuoe-..rdy )'Ours,

ASPIRACION."'1 1..LC

ll), 4'

Nao)t: Bruce A. W1son

Tit1e:: Authonz S1gn.at