IRB Brasil Resseguros : Notice to the Market - News released in the media

IRB-BRASIL RESSEGUROS S.A.

CNPJ: 33.376.989/0001- 91

NIRE: 333.0030917-9

Publicly-Held Company

NOTICE TO THE MARKET

Clarifications on CVM / BOVESPA Requests

Rio de Janeiro, March 10th, 2020.

To

COMISSÃO DE VALORES MOBILIÁRIOS - CVM

Rua Sete de Setembro 111 / 33rd floor

Rio de Janeiro - RJ

CEP 20050-901

At.: MR. FERNANDO SOARES VIEIRA

Head of Company Relations (SEP)

MRS. NILZA MARIA SILVA DE OLIVEIRA

Company Monitoring Manager 1 (GEA-1)

Ref.:

CVM Letter number 61/2020/CVM/SEP/GEA-1 ("CVM Official Letter")

Dear Sirs,

1. In relation to the CVM Official Letter in reference, transcribed below, sent by this d. Commission to IRB-Brasil Resseguros S.A. ("IRB Brasil RE" or "Company"), by e-mail, on March
   9th, 2020, the Company clarifies the following:
2. According to the Notice to the Market published today, the Federal Government, as the holder of the preferred share of special class (Golden Share) issued by the Company, in the exercise of the right conferred by art. 8, § 2, item I, of the Bylaws of IRB Brasil RE, appointed Mr. Antonio Cassio dos Santos to hold the position of Chairman of the Board of Directors, replacing and complementing the mandate of Mr. Ivan de Souza Monteiro.
3. His effective election and taking office depend on an Extraordinary General Meeting, which will be called soon by the Company.
4. It should also be noted that the news mentioned in the CVM Official Letter relates to a personal act by Mr. Antonio Cassio dos Santos, when he left the Generalli Group. In turn, his appointment to IRB Brasil RE's Board of Directors consists of an act by the Federal Government, through the Ministry of Economy, and, at the time of the news release, the Company had not yet received a communication from the Ministry of Economy about that indication.

1. The decision for the disclosure of the information via Notice to the Market is based on the intention of the Company to maintain the same communication format used in all cases related to the election and resignation of Board Members, as, even, occurred with Mr. Ivan de Souza Monteiro, former Chairman of the Board of Directors of IRB Brasil RE.
2. We remain at your entire disposal for any additional clarifications that may be necessary.

Sincerely,

IRB-BRASIL RESSEGUROS S.A.

Copy of Official Notice 61/2020/CVM/SEP/GEA-1

Rio de Janeiro, March 9, 2020.

Dear Sir:

Werner Romera Süffert

Investor Relations Officer of IRB - BRASIL RESSEGUROS S.A.

Avenida Marechal Câmara, nº 171 Centro, Rio de Janeiro - RJ

CEP: 20020-901

Phone: [phone]

E-mail:[e-mail]

c/c: [e-mail]

Topic: Request for clarification regarding news article.

Dear Sir,

1. We report to the news published on the present date, in the electronic media "Isto é Dinheiro", under the title: "Antonio Cássio dos Santos signs resignation of the Generali Group", which contains the following statements:

"The Brazilian Antonio Cássio dos Santos announced this Monday morning (9) his resignation from the post of CEO of Americas and Southern Europe Generali Group, from Italy, where he had been since April 2015 and played one of the multinational's biggest changes in the world.

There are indications of negotiations so that he will soon hold a leading position at IRB, the Reinsurance Institute of Brazil, becoming the new chief of the sector."

1. In this regard, we request a statement from the company regarding the veracity of the news, and, if so, explain the reasons why you understood that this is not a relevant fact, as well as comment on other information considered important on the topic, notably regarding any change in the issuer's management.
2. Such manifestation should be filed through the Empresa.NET System, category: Notice to the Market,
   type: Clarifications on questions from CVM/B3, subject: News Published in the Media, in which it should include the transcript of this letter. The answer to the present request for a statement by means of a Notice to the Market does not exempt the possible determination of responsibility for the timely non-disclosureof Material Fact, pursuant to CVM Instruction 358/02.
3. We warn that, in order of the Superintendence of Relations with Companies, in the use of their legal attributions and, based on item II, of art. 9, of Law 6,385/76, and CVM Instruction 608/19, the determination of the application of a comminatory fine, in the amount of R$1,000.00 (one thousand reais), without prejudice to other administrative sanctions, for non-compliance with the requirement contained in this letter, sent exclusively by e-mail,until March 3th, 2020, notwithstanding the provisions of the sole paragraph of 1. art. 6 of CVM Instruction 358/02.

Sincerely,