Minerva : Notice to the Market -Acquisition of Shareholding BNP Paribas

Minerva S.A. ("Minerva" or "Company"), one of the leaders in South America in the production and sale of fresh beef, live cattle and cattle byproducts, with operations also in the beef, pork and poultry processing segments, in compliance with Article

12 of CVM Instruction 358 of January 3, 2002, as amended ("ICVM 358/02"), informs its shareholders and the market in general that BNP Paribas Asset Management Brasil Ltda, in the quality of manager of many investment funds and accounts, sent to the Company, in compliance with article 12 of CVM Instruction 358/2002, a letter informing the acquisition of a relevant interest in the Company, as presented in Exhibit II attached to this notice. The Exhibit I submits a full transcription of the letter.

Barretos, November 17, 2017.

São Paulo, November 17, 2017. To

Rua Leopoldo Couto de Magalhães Júnior, 758 - 8º andar - Conjunto 82 - Itaim Bibi

CEP 04542-000 - São Paulo - SP

C/O: Eduardo Puzziello - Investors Relations Officer

Dear Sirs,

BNP PARIBAS ASSET MANAGEMENT BRASIL LTDA., headquartered at Av. Presidente Juscelino Kubitscheck, nº 510, 14º andar, in the city and state of São Paulo, inscribed in the roll of corporate taxpayers (CNPJ/MF) under number 02.562.663/0001-25 ("MANAGER"), duly authorized to provide securities' portfolio management services in accordance with CVM Declaratory Act no. 5,032, of September 3, 1998, hereby declares that:

1. On November 16, 2017, the funds managed by said institution reached the combined shareholding interest of eleven million, five hundred ninety-eight thousand, five hundred and fifty-five (11,598,555) common shares issued by MINERVA S.A. ("Company"), corresponding to approximately five point zero four percent (5.04%) of the Company's common shares;

2. The increase in the investment funds' interest has the sole purpose of carrying out financial operations and does not intend to alter the Company's control or administrative structure. and

3. The investment funds do not intent to hold any interest in particular. There being no further matters to add, we hereby subscribe this document.

Sincerely,

Sao Paulo, 17 de Novembro de 2017.

A

Rua Leopoldo Couto de Magalhaes Junior, 758 - 8° andar - Conjunto 82 - ltaim Bibi CEP 04542-000 - Sao Paulo - SP

Att.: Sr. Eduardo Puzziello - Diretor de Relac;ao com lnvestidores

Prezados Senhores,

A BNP PARIBAS ASSET MANAGEMENT BRASIL LTDA. ("GESTORA"), com sede na Cidade de Sao Paulo,

Estado de Sao Paulo, na Av. Presidente Juscelino Kubitscheck, n° 510,14° andar, inscrita no CNPJ/MF sob n° 02.562.663/0001-25, devidamente autorizada a prestart os servic;os de administrac;ao de carteiras de valores mobiliarios por meio do Ato Declarat6rio CVM n° 5.032, datado de 03 de setembro de 1998, serve da presente para informar- lhes que:

1. Em 16 de novembro de 2017, os Fundos geridos por esta instituic;ao atingiram a participac;ao acionaria agregada de 11.598.555 (onze milhoes, quinhentos e noventa e oito mil, quinhentos e cinquenta e cinco) ac;oes ordinarias de emissao da Minerva S.A. ("Companhia"), correspondentes a, aproximadamente, 5,04% (cinco inteiros e quarto centesimos por cento) do total de ac;oes ordinarias da Companhia;

2. 0 aumento da participac;ao acionaria dos Fundos tern por objetivo a mera realizac;ao de operac;oes financeiras e nao objetiva alterar a composic;ao do contro le ou estrutura administrativa da Companhia; e

3. Os Fundos nao tern o objetivo de atingir qualquer participac;ao acionaria em particular.

Sendo o que nos cumpria ate o memento, subscrevemo-nos.

Atenciosamente,

Av. Pres.Juscelino Kubitschek, 510 - 1°, 10° a 14° andares - lta1m Bibi ·CEP 04543-906

Sao Paulo- SP - Brazil - Tel: +SS 113841-3100 - Fax : +55 11 3841-3140

www.bnpparibas.com br