Notice to the Market – BSI Sale – Regulatory Approvals

São Paulo, May 24, 2016 – Banco BTG Pactual S.A. («BTG Pactual»), in addition to the material fact release by BTG Pactual on February 22, 2016, hereby informs that today the Swiss Financial Market Supervisory Authority (FINMA) and the Monetary Authority of Singapore (MAS) approved the sale of BSI to EFG. The next step will be to obtain regulatory approvals from other applicable jurisdictions. We expect the transaction to close at the latest in the fourth quarter of this year.

FINMA and MAS also announced the results of their investigations into accounts held at BSI in Singapore, between 2011 and April 2015, that were associated with 1MDB, the Malaysian sovereign wealth fund. As a result of failures in controls and compliance, FINMA has ordered BSI to return the profits obtained from operations related to 1MDB in the amount of CHF95 million. For its part, MAS imposed a fine of SGC13 million.

BTG Pactual will seek indemnity as contemplated in the contract with the Generali Group for the above fines and losses since such failures occurred before the completion of BSI‘s acquisition by BTG Pactual.

Finally, BTG Pactual informs that, in agreement with FINMA, Roberto Isolani has been appointed Chief Executive Officer of BSI with immediate effect. The appointment of Renato Cohn as the CEO of BSI Singapore took place two weeks ago. Both are partners of BTG Pactual.

BTG Pactual will keep its shareholders and the market duly informed regarding the closing of the transaction.

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Investor Relations Department
Email: ri@btgpactual.com
Phone: +55 (11) 3383-2000
Fax: +55 (11) 3383-2001