BM&F Bovespa : Investor Relations

Non-recurring items resulting from the completion of the Business Combination amounted R$341.2 million1 before taxes (R$226.0 million after taxes) in 1Q17Non-recurring provisions of R$134.3 million before taxes (R$88.6 million after taxes) in 1Q17, reflecting an alignment of methods classifying probabilities of loss in legal disputesRevenues from the Bovespa segment grew 21.5% and from the Cetip UFIN segment 15,8%; net revenues increased 7.6%; operating income and net income excluding non-recurring items grew, respectively, 6.8% and 9.6% in 1Q17

São Paulo, Brazil, May 12th, 2017 - BM&FBOVESPA S.A. ('B3' or 'Company'; ticker: BVMF3) today reported its first-quarter earnings for the period ending on March 31st, 2017 (1Q17). The 1Q17 financial statements were impacted by the completion of the business combination between BM&FBOVESPA and Cetip (Business Combination) on March 29th, 2017. Consequently, 1Q17 IFRS income statement includes only two days of Cetip's results. In order to allow a better understanding of B3's performance in the quarter, the analysis below is based on a combined non-audited income statement (see details in the appendix).

2017 adjusted expenses2 (OPEX) and adjusted capital expenditures3 (CAPEX) budgets for the combined Company we announced today, as follows:

- (i) Adjusted OPEX budget for 2017: between R$1,050 and R$1,100 million. In addition, depreciation and amortization expenses budget should range between R$790 and R$840 million, including depreciation and amortization of intangibles; and

- (ii) Adjusted CAPEX budget for 2017: between R$250 and R$280 million. Additionally, budgets for OPEX and CAPEX related to the Business Combination for 2017 and 2018 were announced as described in the new guidance session.

Highlights of 1Q17:

• In the BM&F segment, average daily volume (ADV) grew 20.0% over 1Q16, while average revenue per contract (RPC) decreased 30.1% in the same period;
• ¿ Average daily trading value (ADTV) in the Bovespa segment grew 15.6% over 1Q16 and trading and posttrading margins increased 1.5% in the same period;
• ¿ 17.9% growth in the number of transactions over 1Q16 was the main highlight in the Cetip UTVM;
• ¿ In the Cetip UFIN, the number of vehicles financed grew 7.2%, explained by an 4.6% increase in total number of vehicles sold and a 76 bps increase in credit penetration (% of vehicles financed over the total sold) in this market; and
• ¿ R$140.3 million in interest on capital, totaling 50% of 1Q17 IFRS net income.

Chief Executive Officer of B3, Gilson Finkelsztain, said: 'The completion of the Business Combination between BM&FBOVESPA and Cetip possibly ranks among one of the most important milestones in the history of the Brazilian financial market. The senior team and I are excited about the future of our Company, and we are honored and humbled by the challenge of leading this outstanding team at B3. Our main priority in the shortand medium-term is to integrate the two companies, while continuing to execute our daily activities with excellency for the benefit of our clients, regulators and shareholders. We will seek to ensure that this integration allows us to capture all the expected efficiencies and benefits from the combination while preserving the best of each predecessor company, in terms of the quality of our services, the resilience of our systems, our capacity to innovate, and the motivation of our people. Our roughly 2,200 employees are aware of how important our services and infrastructure are to our clients, and we will continue to work hard to exceed their expectations'.

Chief Financial and Investor Relations Officer, Daniel Sonder, added: 'One of the main benefits from this Business Combination is that B3 will have a broader and more complete portfolio of products and services, which will translate into a more diversified and resilient mix of revenues. Strong cash flow generation and operational leverage will continue to be the defining characteristics of our business from a financial standpoint. Our financial priorities will be the same ones that guided BM&FBOVESPA and Cetip in the past: preserving balance sheet robustness, exercising expense discipline, and returning capital to our shareholders'.