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Notice to the Market

Minerva S.A. ("Minerva" or "Company"), leading company in South America in the beef exports, following the Notice to Shareholders released on December 11, 2019, informs its shareholders and the market as follows:

On the date hereof, occurred the capital increase financial settlement as a result of warrants exercise, which were approved on the last Company‘s Board of Directors Meeting in 2019, on December 11, totaling R$ 163.4 million and were issued 25,457,250 new common, registered, book-entry shares with no par value were issued.

Since the first conversion round on January 11, 2019, 26,909,418 warrants have been exercised, totaling R$ 172.8 million.

The total warrants outstanding is 123,359,280, with an exercise term through December 21, 2021, and may represent an additional capital increase of approximately R$ 792.0 million.

Click here to access the Notice to the Market.