To
Comissão de Valores Mobiliários – CVM

C/O: Mr. Cláudio José Paulo – Managerr
Copy to: B3 S.A. – Brasil, Bolsa, Balcão

Ref.: Official Letter 391/2017/CVM/SEP/GEA-1 – Clarification on news item

BANCO BTG PACTUAL S.A. («Bank»), in response to Official Letter 391/2017/CVM/SEP/GEA-1, abaixo transcribed below, which requests clarification on a news item published by the media («Letter»), hereby clarifies that Mr. Marcelo Kalim continues as chairman of the Board of Directors and member of BTG Pactual G7 Holding S.A., holding of the controlling shareholder group of BTG Pactual, and that there is no intention to change his positions at the Bank.

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Rio de Janeiro, December 01, 2017.

BANCO BTG PACTUAL S.A.
João Marcello Dantas Leite
Investor Relations Officer