Minutes Of A Meeting Of The Executive Board

Data:	17/08/2016
Veículo:	Jornal Monitor Mercantil / DORJ

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

MINUTES OF THE MEETING OF THE EXECUTIVE BOARD
HELD ON AUGUST 16, 2016

At 3 p.m. on August 16, 2016, a majority of the members of the Executive Board of MONTEIRO ARANHA S.A, met at Company Headquarters located at Ladeira de Nossa Senhora No. 163, Glória, RJ. Mr. SÉRGIO ALBERTO MONTEIRO DE CARVALHO assumed the Chair, inviting Mrs. CELI ELISABETE JULIA MONTEIRO DE CARVALHO to act as Secretary. The Chairman informed those present that the meeting had been convened for the purpose of deciding, in accordance with the powers granted to it by Article 25, sole paragraph, of the Company Bylaws, subject to voting at the General Shareholders Meeting, on the payment of interest-on-equity, in the amount of R$ 15,000,000.00 (fifteen million Brazilian reais), to be paid out in the ratio of R$ 1.224367759 per share, with Income Tax retained at source in accordance with the legislation in force, except for shareholders who are able to prove their exemption or immunity. The amount distributed in the form of interest-on-equity, net of income tax paid at source, will be included as part of the minimum obligatory dividend. Having been put to the vote, the proposal to distribute interest-on-equity to shareholders was approved unanimously, for those holding shares as at 19/08/2016. The shares will trade ex-dividend on BM&FBOVESPA with effect from 22/08/2016. Payments will be distributed from 1/09/2016 onwards, observing the procedures set out in the ""Notice to Shareholders"", to be published shortly in the press. There being no further business to attend to, and with no one wishing to make any comments, the meeting was declared closed; these meeting minutes were then duly written up in the record book and, having been read and approved, were signed by all those Directors present.
Rio de Janeiro, August 16, 2016.

SÉRGIO ALBERTO MONTEIRO DE CARVALHO

CELI ELISABETE JULIA MONTEIRO DE CARVALHO

SÉRGIO FRANCISCO MONTEIRO DE CARVALHO GUIMARÃES

JOAQUIM PEDRO MONTEIRO DE CARVALHO COLLOR DE MELLO.