NOTICE TO SHAREHOLDERS Payment of dividends

Rio de Janeiro, April 25, 2018 - Aliansce Shopping Centers S.A. ("Aliansce" or "Company") (B3: ALSC3) hereby discloses to its shareholders and to the market that, as decided by the Ordinary and Extraordinary Shareholders' Meeting held on April 25, 2018 ("OESM"), based on the balance sheet as of December 31, 2017, the distribution of dividends totaling R$23,634,804.23 (twenty-three million, six hundred and thirty-four thousand, eight hundred and four Brazilian reais and twenty-three cents), equivalent to the amount of R$0.1166185386 per share.

The payment will be made as of May 7, 2018, based on the shareholding position in the Company's records on April 25, 2018. The Company's shares will be traded ex-rights as of April 26, 2018, inclusive.

The payments of the above values will be held as follows:

  • a) Shareholders who hold accounts at Banco Itaú Unibanco S.A.: By credit in their accounts;

  • b) Shareholders who hold accounts at other Banks and have already indicated their Bank, branch and account number:

Through electronic transfer (DOC or TED);

c) Shareholders who are users of fiduciary custodians will have their dividends credited according to the procedures adopted by the Stock Exchange (B3);

d) Shareholders, whose record does not contain their CPF/CNPJ registry number or bank, branch and current account, will have their dividends credited as of the third business day from the date of the request of registration update, as long as the interested parties provide the regularization of their registration, in person, at one of the Banco Itaú Unibanco S.A.'s branches which provides exclusive service to shareholders.

For further information, please contact the Investor Relations area.

About Aliansce S.A.

Aliansce Shopping Centers S.A. (B3: ALSC3) is a leading mall developer and manages the second-highest number of malls in Brazil among the sector's publicly traded companies. Aliansce's core business is investing in shopping malls and providing the following services: (i) management of shopping malls; (ii) commercialization of shopping malls; and (iii) planning and development of shopping malls. Aliansce is a full service company with expertise in every phase of the mall installation process, from the project's planning and development and the mall's launch, to management of the structural, financial, commercial, legal and operational aspects.

Investor Relations

Daniella Guanabara / Strategy and IR Director

Luis Otávio Pinto / IR Manager Luiza Casemiro / IR Analyst

Phone: +55 (21) 2176-7272

ri@aliansce.com.br www.aliansce.com.br/ir

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Aliansce Shopping Centers SA published this content on 25 April 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 25 April 2018 20:58:07 UTC