Minutes Of A Meeting Of The Executive Board

Data:	27/04/2016
Veículo:	Jornal do Comércio

MONTEIRO ARANHA S.A.
CNPJ 33.102.476/0001-92
Publicly Listed Company
NIRE 33300108611

MINUTES OF A MEETING OF THE EXECUTIVE BOARD
HELD ON APRIL 26, 2016.

At 3 p.m. on April 26, 60, a majority of members of the Executive Board of MONTEIRO ARANHA S.A. met at Company Headquarters, located at Ladeira de Nossa Senhora No, 163, Gloria, RJ. Mrs CELI ELISABETE JULIA MONTEIRO DE CARVALHO took the Chair, inviting Mr SÉRGIO FRANCISCO MONTEIRO DE CARVALHO GUIMARÃES to act as Meeting Secretary. The meeting having been called to order, the Madam Chairman announced that the meeting had been convened for the purpose of deliberating on, in accordance with the powers granted by Article 25, sole parapraph, of the Company Bylaws, subject to approval at the General Shareholders’ Meeting, the distribution of interest-on-equity of R$ 12,000,000.00, in the ratio of R$ 0.979494207 per share, with income tax retained at source in accordance with the legislation in force, except for shareholders able to prove their exemption or immunity. The amount to be paid out, in the form of interest-on-equity, net of income tax retained at source, may be included as part of the minimum obligatory dividend. The proposal having been put to the vote, the distribution of interest-on-equity was approved unanimously for shareholders holding shares in the Company as at 26/04/2016. The shares will trade ex-dividend on BM&FBOVESPA from 27/04/2016 thereafter. Payment will be distributed from 06/05/2016 onwards, observing the procedures contained in the Notice to Shareholders, to be shortly published in the press. There being no further business to attend to, and with no-one wishing to add any comments, the meeting was declared closed. The minutes having been duly written up in the record book, read and approved, were then signed by all those Directors present.

Rio de Janeiro, April 26, 2016.

CELI ELISABETE JULIA MONTEIRO DE CARVALHO - SÉRGIO FRANCISCO MONTEIRO DE CARVALHO GUIMARÃES and JOAQUIM PEDRO MONTEIRO DE CARVALHO COLLOR DE MELLO.