NOTICE TO SHAREHOLDERS

Rio de Janeiro, January 13, 2015 - In complement to the Notice to Shareholders disclosed on January 08, 2015, we hereby inform the shareholders of Brookfield Incorporações S.A. ("Brookfield" or "Company") that, given that the procedure for the subscription of the "unsubscribed shares" of the capital increase promoted by the Company, as approved at the Extraordinary Shareholders' Meeting of December 03, 2014 ("Capital Increase"), depends on the shareholders manifesting their intention to purchase the additional "unsubscribed shares", the payment of the amount corresponding to the subscription of said "unsubscribed shares" should occur on January 21, 2015 The deadline for manifesting their interest in subscribing the "unsubscribed shares" continues to be January 15, 2015, as announced in the Notice to Shareholders of January 08, 2015.

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