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Material Fact - 2015 Revenue Estimate

MATERIAL FACT

Minerva S.A. ("Minerva" or "Company"), one of the leaders in South America in the production and sale of fresh beef, live cattle and cattle byproducts, with operations also in the beef, pork and poultry processing segments, in accordance with CVM Instruction 358, of January 3, 2002, as amended, hereby informs its shareholders and the market in general that its current Net Revenue estimate for the year of 2015 is in the range of R$9.5 billion and R$10.5 billion. The estimate is based on the following assumptions: exchange rate (US$/R$) = 2.80, organic growth of the Company’s operations and the consolidation of the acquisitions accomplished in the last 12 months (including the likely conclusion of the Frigorífico Red Cárnica acquisition), as detailed below:

Units Country Slaughter
Capacity (heads)
Start up
date
% on the
12/31/2013

capacity
Slaughter Capacity
(as of 12.31.13)
11,480
Carrasco Uruguay 900 May/2014 7.8%
Mirassol D’Oeste Brazil 1,100 Oct/2014 9.6%
Várzea Grande Brazil 1,500 Oct/2014 13.1%
Janaúba Brazil 900 Oct/2014 7.8%
Sub-Total (acquisitions) 4,400 38.30%
Slaughter Capacity
(as of 12.31.14)
15,880
Red Cárnica* Colombia 850 N/A 7.4%
Total after acquisitions 16,730 45.7%

* Minerva does not operate this unit yet. The effective acquisition/operational startup of this unit is still pending compliance with various conditions precedent, according to the Material Fact released on February 20, 2015.

We reiterate our commitment to transparence by following the best corporate governance practices, to always provide accurate information on the events related to our operations.

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Phone : +55 (11) 3074-2444
E-mail: ri@minerva.com.br

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