Iochpe Maxion : Announcement to Shareholders - Dividends

CNPJ/MF No 61.156.113/0001-75 NIRE 35 300 014 022

IOCHPE-MAXION S.A. (the "Company") informs its shareholders and the market that, at the meeting held on March 27, 2017, the Board of Directors approved, ad referendum of the next Ordinary Shareholders Meeting, the payment to the Company's shareholders of dividends in the total amount of R$ 10,445,909.11, equivalent to R$ 0.07562660 per share, corresponding to the fiscal year ended on December 31, 2016 (the "Dividend").

The shares issued by the Company will be traded ex-dividend as of March 31, 2017 (including).

The Dividend will be paid as of April 07, 2017; (i) the shareholders whose recordsbefore Itaú Corretora de Valores S.A. ("Depository Institution") are up to date will receive the corresponding Dividend amount at their registered bank account; (ii) the Dividend corresponding to the shares in custody at CBLC - Companhia Brasileira de Liquidação e Custódia ("CBLC") will be paid to the same CBLC, that in return will pay the respective shareholders through the network of brokers; (iii) the shareholders whose records are outdated will have the Dividend amount they are entitled to withheld by the Company and held at the disposal of the respective shareholders for payment, upon presentation of the bank details (bank, agency and checking account) at the specialized agencies of the Depository Institution.

São Paulo, March 27, 2017.

Augusto Ribeiro Junior