PDG Realty SA Empreend e Participacoes : Notice to the Market - Goldman Sachs Sale

FREE TRANSLATION

This is a free translation of the notice to the marked made public by PDG Realty S.A. Empreendimentos e

Participações on September 13, 2013, and is being distributed for informational purposes only.

Publicly-Held Corporation

Corporate Taxpayer ID (CNPJ): No. 02.950.811/0001-89

Company Registry (NIRE): 33.300.285.199

PDG REALTY S.A. EMPREENDIMENTOS E PARTICIPAÇÕES (BM&FBOVESPA PDGR3), a publicly held corporation, enrolled with the Corporate Taxpayer ID ("CNPJ") under No. 02.950.811/0001-89, with headquarter in the City of Rio de Janeiro, State of Rio de Janeiro, located at Rua da Quitanda, No. 86, 4th floor (parte), Center, Zip Code 20.091-005 (the "Company"), hereby, in fulfillment of the obligation set forth in paragraph 4th Article 12, of CVM Normative Ruling No. 358, dated January 3, 2002, as amended, notifies that Goldman Sachs International ("GSI"), a corporation enrolled with the CNPJ under No.

05.987.220/0001-74, has informed the Company that, on September 2, 2013, due to the sale of equity interest, the corporate stake held by GSI reached 61,091,510 (sixty-one million, ninety- one thousand, five hundred ten) shares, representative of 4.6% (four point six percent) of the common stock issued by the Company, consisting of (i) 17,435,336 (seventeen million, four hundred thirty-five thousand, three hundred thirty-six) shares; (ii) 256,811 (two-hundred fifty- six thousand, eight-hundred eleven) American Depository Recepits, each of which represents 2 (two) shares; (iii) 31,000,000 (thirty-one million) call option contracts that provide GSI the right to acquire 31,000,000 (thirty-one million) shares on or before December 16,2013; (iv)

4,188,000 (four million, one hundred eighty-eight thousand) call option contracts that provide

GSI the right to acquire 4,188,000 (four million, one hundred eighty-eight thousand) shares on or before February 17, 2014; (v) 7,954,552 (seven million, nine-hundred fifty four thousand, five-hundred fifty two) convertible debentures representing 7,954,552 (seven million, nine hundred and fifty four thousand, five hundred and fifty two) shares on an as-converted basis.

As stated in the notice received by the Company, GSI declares that (i) the purpose of the corporate stake mentioned hereinabove is strictly a minority investment that does not have as a purpose a promote a change in the corporate control of the Company; (ii) other than disclosed herein, in this Notice to the Market, none of the subsidiaries or affiliates of The Goldman Sachs Group hold any interest in the Company; (iii) other than as disclosed herein, in this Notice to the Market, there are no convertible debentures held, directly or indirectly, by The Goldman Sachs Group or any of its subsidiaries or affiliates; and (iv) has not entered in any

FREE TRANSLATION

This is a free translation of the notice to the marked made public by PDG Realty S.A. Empreendimentos e

Participações on September 13, 2013, and is being distributed for informational purposes only.

contract or agreement regarding the voting rights or the purchase and sale of securities issued by the Company.

In Exhibit I attached hereto, in this Notice to the Market, we have reproduced the full content of the notice received from GSI's representative.

São Paulo, September 13, 2013.

FREE TRANSLATION

This is a free translat:ion of the not:ice to the marked made pubhc by PDG Realty S.A. Empreendimentos e

Part:icipaçOes on September 13, 2013, and is being distributed for infonnat:ional purposes only.

EXHIBITI

EXHIBIT l TO THE NOTICE TO THE MARKET FROM PDG REALTY S.A. EMPREENDIMENTOS E PARTICIPAçòES MADE PUBLIC ON SEPTEMBER 13,2013.

Sao Paulo, September 13, 2013. Sao Paulo, 13 de setembro de 2013.

Participaçoes
Attn.: Sr. Guido Prestes Lemos lnvestor Relations Manager
Participaçoes
At.: Sr. Guido Prestes Lemos
Diretor de Relaç6es com lnvestidores
Rua Tenerife, 31, 51
floor, Vila Olfmpia
Rua Tenerife, 31, 5° andar, Vila Olfmpia
CEP 01310-100, Sao Paulo- SP
Ref.: Disposition of common stock
Dear Siror Madam,
Goldman, Sachs & Co. ("Goldman Sachs"), a New York limited partnership and registered as a broker-dealer and as an investment adviser pursuant to the laws of the United States Securities and Exchange Commission, a wholly­ owned subsidiary of The Goldman Sachs Group, lnc. and enrolled with the C.N.P.J. under No. 05.987.216/0001-06, by its undersigned legai representative, in fulfillment of the obligation set forth in article 12, caput, of CVM Normative Ruling No. 358, dated January 3,
2002, as amended ("CVM 358"), notifies that on September 6, 2013 Goldman Sachs lnternational ("GSI"), a wholly-owned subsidiary of The Goldman Sachs Group, lne. and enrolled with the C.N.P.J. under No. 05.479.103/0001-
08, disposed of 6,218,877 (six million, two hundred eighteen thousand, eight hundred seventy-seven) shares of common stock (the "Shares") of PDG Realty S.A. Empreendimentos e Participaç6es (the "Company"), bringing its total ownership to
61,091,51O (sixty-one million, ninety-one
thousand, five hundred ten) Shares or 4.6% (four point six percent) of the Shares issued by the Company. The 61,091,51O (sixty-one million, ninety-one thousand, five hundred ten) Shares of the Company and owned by GSI

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CEP 01310-100, Sao Paulo- SP
Ref.: Alienaçao de açoes ordinarias
Prezados Senhores e Senhoras,
Goldman, Sachs & Co. ("Goldman Sachs"), urna limited partnership devidamente organizada e existente de acordo com as leis do Estado de Nova lorque e registrada como urna corretora e consultora de investimentos conforme as leis da Comissao de Cambio e Valores Mobiliarios dos Estados Unidos (United States Securities and Exchange Commission), urna subsidiaria integrai do The Goldman Sachs Group, lnc. e inserita no C.N.P.J. sob no
05.987.216/0001-06, por seu representante legai abaixo assinado, em cumprimento ao que estabelece o artigo 12, caput, da lnstruçao CVM no 358, de 3 de janeiro de 2002, conforme alterada ("lnstrucao CVM 358"), comunica que em 06 de setembro de 2013 a Goldman Sachs lnternational, urna subsidiaria integrai da The Goldman Sachs Group, lnc. e inserita no C.N.P.J. sob no 05.479.103/0001-08 ("GSI"), alienou 6.218.877 (seis milh6es duzentos e dezoito mil oitocentas e setenta e sete) aç6es ordinarias (as "Ac6es") de emissao da PDG Realty S.A. Empreendimentos e Participaç6es (a "Companhia"), passando a deter um total de
61.091.51O (sessenta e um milh6es noventa e uma mil quinhentas e dez) Aç6es ou 4,6% (quatro vfrgula seis por cento) das Aç6es de emissao da Companhia. As 61.091.51O
consist of (i) 17,435,336 (seventeen million, four hundred thirty-five thousand, three hundred thirty-six) Shares, (ii) 256,811 (two hundred fifty­ six thousand, eight hundred eleven) American Depository Receipts, each of which represents
2 (two) Shares, (iii) 31,000,000 (thirty-one million) cali option contracts that provide GSI the right to acquire 31,000,000 (thirty-one million) Shares on or before December 16,
2013, (iv) 4,188,000 (four million, one hundred eighty-eight thousand) cali option contracts that provide GSI the right to acquire 4,188,000 (four million, one hundred eighty-eight thousand) Shares on or before February 17, 2014, and (v)
7,954,552 (seven million, nine hundred fifty-four
thousand, five hundred fifty-two) convertible debentures representing 7,954,552 (seven million, nine hundred fifty-four thousand, five hundred fifty-two) Shares on an as-converted basis. The Notice attached hereto also contains additional information on the disposition of the Shares, including those required in article 12 of CVM 358.
According with article 12, §6° of CVM 358, we request the lnvestor Relations Officer to kindly take the necessary provisions for the immediate transmission of the information contained herein to CVM and to BM&FBOVESPA.
We remain at your entire disposal should you need any further clarification of this matter. In respect with the subject of this letter, you may contact Fernando Rosas, telephone (55 11)
3372-0107, e-mail fernando.rosas@qs.com,

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(sessenta e um milhoes noventa e urna mil quinhentas e dez) Aç6es de emissao da Companhia detidas pela GSI consistem em (i)
17.435.336 (dezessete milh6es quatrocentos e trinta e cinco mil trezentas e trinta e seis) Aç6es, (ii) 256.811 (duzentos e cinquenta e seis mil oitocentos e onze) American Depository Receipts, cada qual representando 2 (duas) Aç6es, (iii) 31.000.000 (trinta e um milh6es) contratos de opçao de cali que outorgam à GSI o direito de adquirir 31.000.000 (trinta e um milhoes) Açoes antes de ou em 16 de dezembro de 2013, (iv) 4.188.000 (quatro milh6es cento e oitenta e oito mil) contratos de opçao de cali que outorgam à GSI o direito de adquirir 4.188.000 (quatro milh6es cento e oitenta e oito mil) Aç6es antes de ou em 17 de fevereiro de 2014, e (v) 7.954.552 (sete milhoes, novecentos e cinquenta e quatro mil, quinhentos e cinquenta e duas) debentures conversfveis em aç6es que representam
7.954.552 (sete milh6es, novecentos e cinquenta e quatro mil, quinhentos e cinquenta e duas) Aç6es se ja estivessem convertidas. O Comunicado anexo contém informaç6es adicionais sobre a negociaçao das Aç6es, incluindo aquelas previstas no artigo 12 da lnstruçao CVM 358.
Nos termos do artigo 12, §6° da lnstruçao CVM
358, solicitamos ao Diretor de Relaç6es com lnvestidores da Companhia a gentileza de que tome as providencias para a imediata transmissao · das informaç6es aqui contidas à CVM e à BM&FBOVESPA.
Permanecemos à disposiçao de V.Sas. para quaisquer esclarecimentos que se façam necessarios. Em relaçao ao assunto tratado nesta correspondencia, V.Sas. poderao contatar o Sr. Fernando Rosas, telefone (55 11)

with offices at Rua Leopoldo Cauto de

3372-0107, email ferna n d o.ros as@gs.com ,

Magalhaes Jr., nQ 700, 161

Paulo, SP, Brasil.

floor, ltaim Bibi, Sao

com escrit6rio na Rua Leopoldo Cauto de Magalhaes Jr., nQ 700, 16Q andar, ltaim Bibi, Sao Paulo, SP, Brasil.

Sincerely, Atenciosamente,

Goldman, Sachs & Co.

Kosic

Vice Presid t/Vice Presidente

Goldman Sachs lnternational

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Publicly-held Company

Companhia Aberta
CNPJ/MF 10.629.105/0001-68
NIRE 33.3.0029084-2
CNPJ/MF 10.629.105/0001-68
NIRE 33.3.0029084-2
In accordance with the main section of article 12 of Em cumprimento ao que estabelece o artigo 12, CVM lnstruction No. 358 of January 3, 2002, as caput, da lnstruçao CVM no 358, datada de 3 de amended, Goldman, Sachs & Co. ("Goldman janeiro de 2002, conforme alterada, Goldman, Sachs"), a New York limited partnership and Sachs & Co. ("Goldman Sachs"), uma limited registered as a broker-dealer and as an investment partnership devidamente organizada e existente adviser pursuant to the laws of the United States de acordo com as leis do Estado de Nova lorque e Securities and Exchange Commission, a wholly- registrada como uma corretora e consultora de owned subsidiary of The Goldman Sachs Group, investimentos conforme as leis da Comissao de lnc. and enrolled with the C.N.P.J. under No. Cambio e Valores Mobiliarios dos Estados Unidos
05.987.216/0001-06, with its principal piace of (United States Securities and Exchange
business at 200 West Street, New York, NY Commission), urna subsidiaria integrai do The
10282, hereby informs that on September 6, 2013 Goldman Sachs Group, lne. e inserita no C.N.P.J. Goldman Sachs lnternational ("GSI"), a wholly- sob no 05.987.216/0001-06, com sede em 200 owned subsidiary of The Goldman Sachs Group, West Street, New York, NY 10282, vem por meio lnc. and enrolled with the C.N.P.J. under No. desta comunicar que em 06 de setembro de 2013
05.479.103/0001-08 ("the Shareholder"), disposed a Goldman Sachs lnternational, uma subsidiaria of 6,218,877 (six million, two hundred eighteen integrai do The Goldman Sachs Group, lnc. e thousand, eight hundred seventy-seven) shares of inserita no C.N.P.J. sob no 05.479.103/0001-08 (a common stock (the "Shares") of PDG Realty S.A. "Acionista"), alienou 6.218.877 (seis milh5es Empreendimentos e Participaç5es (the duzentos e dezoito mil oitocentas e setenta e sete) "Company"), bringing its total ownership to aç6es ordinarias (as "Ac6es") de emissao da PDG
61,091,51O (sixty-one million, ninety-one Realty S.A. Empreendimentos e Participaç6es (a thousand, five hundred ten) Shares or 4.6% (four "Companhia"), passando a deter um total de point six percent) of the Shares issued by the 61.091.51O (sessenta e um milh6es noventa e Company. The 61,091,51O (sixty-one million, uma mil quinhentas e dez) Aç6es ou 4,6% (quatro ninety-one thousand, five hundred ten) Shares of virgula seis por cento) das Aç6es de emissao da the Company and owned by GSI consist of (i) Companhia. As 61.091.51O (sessenta e um
17,435,336 (seventeen million, four hundred thirty- milh6es noventa e urna mil quinhentas e dez) five thousand, three hundred thirty-six) Shares, Aç5es de emissao da Companhia detidas pela GSI (ii) 256,811 (two hundred fifty-six thousand, eight consistem em (i) 17.435.336 (dezessete milh6es hundred eleven) American Depository Receipts, quatrocentos e trinta e cinco mil trezentas e trinta each of which represents 2 (two) Shares, (iii) e seis) Aç6es, (ii) 256.811 (duzentos e cinquenta e
31,000,000 (thirty-one million) cali option contracts seis mil oitocentos e onze) American Depository that provide GSI the right to acquire 31,000,000 Receipts, cada qual representando 2 (duas) (thirty-one million) Shares on or before December Aç6es, (iii) 31.000.000 (trinta e um milh6es)
16, 2013, (iv) 4,188,000 (four million, one hundred contratos de opçao de cali que outorgam à GSI o

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eighty-eight thousand) cali option contracts that direito de adquirir 31.000.000 (trinta e um milh6es) previde GSI the right to acquire 4,188,000 (four de Aç6es antes de ou em 16 de dezembro de million, one hundred eighty-eight thousand) 2013, (iv) 4.188.000 (quatro milh6es cento e Shares on or before February 17, 2014, and (v) oitenta e oito mil) contratos de opçao de cali que
7,954,552 (seven million, nine hundred fifty-four outorgam à GSI o direito de adquirir 4.188.000
thousand, five hundred fifty-two) convertible (quatro milh6es cento e oitenta e oito mil) Aç6es debentures representing 7,954,552 (seven million, antes de ou em 17 de fevereiro de 2014, e (vi) nine hundred fifty-four thousand, five hundred fifty- 7.954.552 (sete milh6es, novecentos e cinquenta e two) Shares on an as-converted basis. This is a quatro mil, quinhentos e cinquenta e duas) minority investment that does not involve a change debentures conversfveis em aç6es que in the composition of corporate contro! or a change representam 7.954.552 (sete milh6es, novecentos in the management structure of the Company. e cinquenta e quatro mil, quinhentos e cinquenta e Currently, the Shareholder does not target any duas) Aç6es se ja estivessem convertidas. Este é quantity of the Company's shares. Other than um investimento minoritario que nao envolve disclosed herein, none of the affiliates of the mudança na composiçao do contrale acionario ou Shareholder hold any interest in the Company. na alteraçao da estrutura administrativa da Other than as disclosed herein, there are no Companhia. Atualmente, o Acionista nao visa convertible debentures already held, directly or deter urna quantidade especffica das aç5es da indirectly, by the Shareholder or any of its Companhia. Exceto pelo divulgado neste subsidiaries or affiliates, nor any agreement or Comunicado, nenhuma das afiliadas ou contract regulating voting rights or the purchase controladas do Acionista detém participaçao and sale of securities issued by the Company, to acionaria na Companhia. Exceto pelo divulgado which the Shareholder or any of its subsidiaries or neste Comunicado, o Acionista, ou quaisquer de affiliates is a party. suas afiliadas ou controladas, nao detém, direta e/ou indiretamente, debentures conversfveis de
emissao da Companhia, bem como nao fazem parte de nenhum centrato ou acordo dispondo sobre direito de voto ou sobre a compra e venda de valores mobiliarios de emissao da Companhia.
September 13, 2013 13 de setembro de 2013

Goldman, Sachs & Co. Goldman Sachs lnternational

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