FREE TRANSLATION

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

Participações on December 12, 2013, and is being distributed for informational purposes only.

PDG REALTY S.A. EMPREENDIMENTOS E PARTICIPAÇÕES

Publicly-Held Corporation

Corporate Taxpayer ID (CNPJ): No. 02.950.811/0001-89
Company Registry (NIRE): 33.300.285.199

NOTICE TO THE MARKET

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 Article 12, caput, of CVM Normative Ruling No. 358, dated January, 3rd, 2002 ("CVM Normative Ruling 358"), as amended, notifies that, on this date, Orbis Investment Management Limited ("Orbis"), acting as manager of several investment funds and holding every discretionary powers relating to its management, has informed the Company that, since December 11, 2013, it holds, in the aggregate, the rights over
208,314,521 (two hundred and eight million, three hundred and fourteen thousand, five hundred twenty one) shares, representative of 15.55% (fifteen point fifty five percent) of the common stock issued by the Company.
As stated in the notice received by the Company, Orbis declares that the purpose of the corporate stake mentioned hereinabove does not have as a purpose to promote a change in the corporate control or the management structure of the Company.
Additionally, the Company requested further explanations to Orbis in regard of the information provided in the article 12th of CVM Normative Ruling 358, and have been informed that Orbis: (i) do not held, directly or indirectly, any convertible debentures or any other securities issued by the Company, and (ii) it has not entered in any contract or agreement regarding the voting rights or the purchase and sale of securities issued by the Company.
The Schedule I to this notice reproduces the terms of the letter received from Orbis'
representative.
São Paulo, December 12, 2013.

FREE TRANSLATION

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

Participações on December 12, 2013, and is being distributed for informational purposes only.

SCHEDULE I


Schedule I to the Notice to the Market of REALTY S.A. EMPREENDIMENTOS E

PARTICIPAÇÕES released in December 12, 2013.

12 de Dezembro de 2013
Diretora de Relações com Investidores
PDG Realty S.A. Empreendimentos e Participações
Rua Tenerife, 31, 5th floor, Vila Olímpia
CEP 01310-100, São Paulo - SP Fax: +55 11 3043-4783
Exmos. Senhores,
Conforme prescrito pela Instrução No. 358/02, emitida pela Comissão de Valores Mobiliários, viemos pela presente informar que, a 11 de Dezembro de 2013, as contas geridas por Invesment Management Limited e suas entidades afiliadas (coletivamente, "Orbis"), adquiriram 208,314,521 ações em PDG Realty S.A. ("Empresa"), representando 15.55% das ações pendentes.
Orbis não tem qualquer intenção de alterar o controle ou a estrutura administrativa da empresa.
Solicitamos que a empresa não divulgue publicamente a nossa posse das ações, a menos que exigido por lei ou regulamento. No evento que pretende divulgar a nossa posse, solicitamos que contacte-nos previamente.
Qualquer dúvida ou questão, não hesitem em entrar em contato. Cumprimentos cordiais.
Hugh Gillespie
Director de Conformidade

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