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Material Fact - State Payroll Services

Material Fact

Porto Alegre, May 2, 2016.

Banco do Estado do Rio Grande do Sul S.A. ("Banrisul"), pursuant to Instruction No. 358 of the Comissão de Valores Mobiliários ("CVM", the Brazilian Securities and Exchange Commission), of January 3, 2002, and Paragraph 4 of Article 157 of Law no. 6,404 of December 15, 1976, hereby informs its shareholders and the market, in addition to the material facts dated January 19, 2016, February 17, 2016 and February 26, 2016, that a non-binding offer for the onerous assignment of services related to the payroll of state public servants ("Transaction") was sent to the State of Rio Grande do Sul ("State") on April 29, 2016. The amount and other conditions of Transaction are not yet defined and will be subject of negotiation between Banrisul and the State from this moment forward.

The aforementioned offer was approved by the Board of Directors at the meeting held on April 29, 2016, which minutes is available at the following address:

Banrisul will maintain its shareholders and the market in general informed of any new material facts regarding to this matter.

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Ricardo Richiniti Hingel
Telefone: +55 (51) 3215-3232

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