OSX BRASIL : Demobilization of FPSO OSX-1 Vessel

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OSX BRASIL S.A. CNPJ/MF: 09.112.685/0001-32 Public Company - em Recuperação Judicial BM&FBOVESPA: OSXB3 Material Fact

Demobilization of FPSO OSX-1 Vessel

Rio de Janeiro, January 22nd, 2016 - OSX Brasil S.A. - Em Recuperação Judicial ("OSX" or "Company") (BM&FBovespa: OSXB3), in accordance with article 157, paragraph 4 of Brazilian Law No. 6.404/76 and CVM Rule No. 358/02, announces to its shareholders and the market that, in addition to the material fact released on August 28th, 2015, and in accordance to the Company's Judicial Reorganization Plan, concluded the FPSO OSX-1 vessel demobilization on Tubarão Azul Field. The FPSO OSX-1 vessel, on the date hereof, is heading to Norway, respecting the commitments made by the Company.

The transference of the FPSO OSX-1 vessel was concluded after approval from Brazilian authorities and represents an important step, in compliance to the Company's restructuring plan, since the operation assists the vessel sales.

The Company will keep its shareholders and the market informed of any further developments on this matter.

OSX BRASIL S.A.

Mauro Abreu CFO and Investor Relations Director

LEGAL NOTICE

This document contains Company-related statements and information that reflect the current vision and/or expectations the Company and its management have regarding its business plan. These include, among others, all forward-looking statements that involve forecasts and projections, indicate or imply results, performance or future achievements, and may contain words such as "believe," "foresee," "expect," "consider," "is likely to result in" or other words or expressions of similar meaning. Such statements are subject to a series of expressive risks, uncertainty and premises. Please be advised that several important factors can cause the actual results to diverge materially from the plans, objectives, expectations, estimations, and intentions expressed in this document. In no event shall the Company or the members of its board, directors, assigns or employees be liable to any third party (including investors) for investment decisions or acts or business carried out based on the information and statements that appear in this presentation, or for indirect damage, lost profit or related issues. The Company does not intend to provide to potential shareholders with a revision of the statements or an analysis of the differences between the statements and the actual results. Each investor must conduct and rely on its own evaluation, including of the associated risks, in making an investment decision.

This material fact notice is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of

a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the company and management, as well as financial statements.

Contact Mauro Abreu [e-mail]

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