Cyrela Brazil Realty Emprdts e Prtpcs : Notice to the Market - Substantial Holder - CRGI

Notice to the Market

São Paulo, August 21st, 2017 - Pursuant to Article 12 of Instruction 358 of Comissão de Valores Mobiliários ("CVM", or the Brazilian Securities and Exchange Commission), as amended, Cyrela Brazil Realty S.A. Empreendimentos e Participações ("Cyrela" or "Company"), a residential real estate developer, announces to its shareholders and the Market in general that the Company, on August 21st, 2017, received a notification letter from Capital Research Global Investors ("CRGI"), informing as follows:

(i) CRGI holds 18,726,200 common shares issued by the Company ("Common Shares"), corresponding to 4,69% of the Company's capital, on behalf of some of its clients and in the capacity of an investment adviser.

CRGI further states that these Common Shares are held only for investment purposes and not to alter the Company's ownership breakdown or management structure.

There are no other securities or derivative financial instruments referenced in these shares hold directly or indirectly by CRGI or any other persons associated with it, neither there are agreements or contracts regulating voting rights or the purchase and sale of securities issued by the Company in which CRGI or any other persons associated with it be a party.

The notification letter has been filed at the Company's headquarters.

São Paulo, August 21st, 2017.

Investor Relations Officer