General Shopping Brasil : Material Fact 08 02 2016

GENERAL SHOPPING BRASIL S.A.

Publicly Traded Company

NIRE 35.300.340.833 CNPJ/MF nº 08.764.621/0001-53

Material Fact

GENERAL SHOPPING BRASIL S.A. ("Company"), publicly-held company headquartered at Avenida Angélica, No. 2.466, suite 221, in the city and state of São Paulo, pursuant to the Normative Instruction of the Comissão de Valores Mobiliários No. 358 dated as of January 3rd, 2002, as amended, as a supplement to the Material Fact disclosed on July 5th, 2016 and on July 20th, 2016, by the Company, hereby informs its shareholders and the market in general that the period for the holders to tender their outstanding US$150,000,000 12.000% Perpetual Subordinated Fixed to Floating Rate Notes With Interest Deferral Option, issued by General Shopping Investments Limited (respectively "Perpetual Bonds" and "GS Investments"), in the exchange offer launched by GS Investments on July 5th, 2016 ("Exchange Offer"), has been extended from 11:59 pm of August 1st, 2016 ("Original Expiration Time") to 11:59 pm of August 2nd, 2016.

As of the Original Expiration Time, investors had tendered a total amount of US$24,420,000 in Perpetual Bonds, representing 16.28% of the aggregate outstanding balance related to the principal amount of the Perpetual Bonds.

Additional information related to the transactions mentioned on this Material Fact will be disclosed to the market in due course and in accordance with the applicable rules.

This announcement is not an offer to purchase the Perpetual Bonds or any other securities issued by the Company or its subsidiaries, in Brazil or elsewhere, nor a solicitation to purchase the New Bonds. The Exchange Offer is being carried out exclusively to holders of the Perpetual Bonds on the international market.

São Paulo, August 2nd, 2016.

GENERAL SHOPPING BRASIL S.A.

Marcio Snioka Investor Relations Officer