JHSF PARTICIPAÇÕES S.A.

CNPF/MF 08.294.224/0001-65

Publicly Traded Company

MATERIAL FACT

JHSF Participações S.A. ("JHSF"), complying with the provisions of Article 157 of Law no. 6404/76 and CVM Instruction no. 358/02 and later changes, would like to announce to its investors and the public its new expectations for two of its main divisions, as follows:

Recurring Income division (malls and properties): EBITDA of R$290 million/year at the end of 2015.

Real Estate Development division: EBITDA of R$180 million in 2014 and of R$200 million/year starting in 2015.

This forecast of future performance, or guidance, is compatible with the guidance it replaces and aligned with the Company's current strategic vision for these two divisions for the next years. In the Recurring Income division, we adjusted the 2015 yearend "revenue" based guidance to a 2015 yearend "EBITDA" based guidance; and we confirm our guidance for 2013 yearend running revenue. In the Real Estate Development division, we adjusted the long-term average "launching PSV" guidance to an annual "EBITDA" guidance, which draws a clearer picture of our project-profitability driven business model.

This new guidance replaces the guidance announced on November 12, 2012.

Sao Paulo, November 13, 2013

Eduardo S. Camara

Vice President and Investor Relations Officer

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