KROTON EDUCACIONAL S.A.

Publicly Held Company
Corporate Taxpayer ID (CNPJ/MF): 02.800.026/0001-40
Company Registry (NIRE): 31.300.025.187

NOTICE TO SHAREHOLDERS

We hereby inform the Shareholders that the Board of Directors of Kroton Educacional S.A. ("Company"), at a meeting held on March 18, 2014, 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, 2013, the payment of interim dividends, calculated towards the minimum mandatory dividends for fiscal year 2013. The amount to be paid is twenty seven million, seven hundred forty-one thousand, ten reais and sixty-three cents (R$ 27,741,010.63), without any monetary restatement or withholding income tax, pursuant to applicable laws. The dividends will be paid to shareholders in proportion to their respective interest in the Company's capital stock, in the amount of R$ 0.10324008362880900 per common share of the Company, after deducting from this calculation the shares in treasury on this date. The dividends will be paid by the Company on March 31, 2014, to shareholders of record at the close of trading on March 18, 2014. Starting March 19, 2014, the Company's shares will be traded ex-dividend on the BM&FBOVESPA.
For shareholders registered with Banco Itaú S.A., the depository institution for the Company's shares, to receive dividends through credit to account, the dividends will be credited automatically. Shareholders not registered with Banco Itaú S.A. should, as of this date, visit any Banco Itaú S.A. branch to update their records in order to receive dividends.
Belo Horizonte, March 18, 2014

CARLOS ALBERTO BOLINA LAZAR

Investor Relations Officer

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