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Belo Horizonte, May 12, 2015, Kroton Educacional S.A. (BM&FBovespa: KROT3 and Bloomberg: KROT3:BZ), announces its results for the first quarter of 2015 (1Q15).
1Q15 Results

1Q15 Highlights:

- The first admission process of 2015 added 319,700 new On-Campus Undergraduate and Distance Learning students, an increase of 6.3% on 1Q14 (pro forma). The total Postsecondary student base surpassed 1.1 million students, expanding 12.8% on 4Q14. Considering only On-Campus and Distance Learning Undergraduate students, the student base expanded 14.0% in the same period.

- Successful launch of the Private Special Installment Plan (PEP) as an alternative to the restriction on FIES openings, through which over 22,800 students were enrolled.

- Net revenue grew 91.1% on 1Q14 to R$1,287.8 million, driven primarily by the incorporation of the Anhanguera figures, but also by organic growth of the Postsecondary student base.

- Adjusted EBITDA was R$551.6 million, growing 66.3% on 1Q14. Adjusted EBITDA margin stood at 42.8%, significantly higher than in 4Q14 and 3Q14, which are both periods that already consolidated the Anhanguera figures.

- Adjusted net income came to R$455.3 million in 1Q15, increasing 56.9% from R$290.2 million in the same period last year. Adjusted net margin stood at 35.4% in the quarter, also substantially higher compared to 4Q14 and 3Q14.

- In the Anhanguera integration process, the highlight was the conclusion of the integration of the financial management platforms (ERPs), which is an important step towards streamlining processes and capturing efficiency gains across the various business units.

To access Kroton's earnings release, please, click here.

1Q15 Earnings Conference Call: May 12, 2015

English
Time: 12:30 p.m. (Brasília)
Time: 11:30 a.m. (New York)
Phone: +1 (412) 317-6776 or +1 (877) 317-6776
Code: Kroton
Replay: +1 (412) 317-0088
Code: 10064437

Portuguese
Time: 11:00 a.m. (Brasília)
Time: 10:00 a.m. (New York)
Phone: +55 (11) 3127-4971 or +55 (11) 3728-5971
Code: Kroton
Replay: +55 (11) 3127-4999
Code: 86497354

Participants are requested to connect ten minutes prior to the time set for the conference call.

Slides and Webcast: The conference call slides will be available on our website www.kroton.com.br/ir on May12. The Conference Call will be webcasted simultaneously on the same website, and will remain available after the event.

Notice to Shareholders

We hereby inform the Shareholders that the Board of Directors of Kroton Educacional S.A. ("Company"), at a meeting held on May 12, 2015, at 7:00 a.m. approved, subject to approval of the Annual Shareholders' Meeting of the Company that will deliberate on the results of the fiscal year ended on December 31, 2015, the payment of interim dividends, calculated towards the minimum mandatory dividends for fiscal year 2015.

To access the Notice to Shareholders, please, click here.

For more information, please contact our investor relations department:

Carlos Lazar - Director
Carolina Igi - Coordinator
Pedro Gomes - Coordinator
Telephone: +55 (11) 3133-7309 / +55 (11) 3133-7314 / +55 (11) 3133-7311
Email: dri@kroton.com.br

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