Individual and Consolidated Interim Financial Information and Accountant s Report on Review of Interim Financial Information. As at September 30, 2017

Transcrição

1 Rossi Residencial S.A. and Subsidiaries (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) Individual and Consolidated Interim Financial Information and Accountant s Report on Review of Interim Financial Information As at September 30, 2017 REL-2287i/2017

2 Contents Page Accountant s report on review of interim financial information 3 Interim financial information 6 Notes to the interim financial information for the period ended September 30,

3 3 Accountant s report on review of the interim financial information (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail. See Note 30 to the interim financial information.) Grant Thornton Auditores Independentes Av. Engenheiro Luis Carlos Berrini, andar Edifício Berrini One Itaim Bibi São Paulo SP Brasil To the Shareholders, Directors, and Management of Rossi Residencial S.A. São Paulo, SP T Introduction We have reviewed the individual and consolidated interim financial information of Rossi Residencial S.A. ( Company ), identified as Parent and Consolidated, respectively, included in the Interim Financial Information Form (ITR) for the quarter ended September 30, 2017, which comprises the balance sheet as at September 30, 2017 and the related statement of profit and loss, statement of comprehensive income for the three- and nine-month periods then ended, statement of changes in equity, and statement of cash flows for the nine-month periods then ended, including a summary of significant accounting policies and other explanatory notes. Management is responsible for the preparation of the individual interim financial information in accordance with technical pronouncement CPC 21 (R1) - Interim Financial Reporting and the consolidated interim financial information in accordance with technical pronouncement CPC 21 (R1) and IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board IASB, which takes into consideration the technical instruction OCPC 04 on the application of technical interpretation ICPC 02 to real estate development entities in Brazil, issued by the Accounting Pronouncements Committee (CPC) and approved by the Brazilian Securities Commission (CVM) and the Federal Accounting Council (CFC), as well as for the presentation of such information in accordance with the standards issued by the CVM applicable to the preparation of Interim Financial Information (ITR). Our responsibility is to express an opinion on this interim financial information based on our review. Scope of review We conducted our review in accordance with Brazilian and international standards on review of interim financial information (NBC TR 2410 and ISRE Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the standards on auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4 4 Conclusion on the individual and consolidated interim financial information prepared in accordance with CPC 21 (R1) Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual and consolidated interim financial information included in the interim financial information referred to above is not prepared, in all material respects, in accordance with technical pronouncement CPC 21 (R1), applicable to the preparation of the Interim Financial Information (ITR), and presented in accordance with the standards issued by the CVM. Conclusion on the consolidated interim financial information prepared in accordance with IAS 34, which considers technical instruction OCPC 04 on the application of technical interpretation ICPC 02 to real estate development entities in Brazil, issued by the CPC and approved by the CVM and the CFC Based on our review, nothing has come to our attention that causes us to believe that the consolidated interim financial information included in the ITR referred to above is not prepared, in all material respects, in accordance with IAS 34, which considers OCPC 04 on the application of technical interpretation ICPC 02 to real estate development entities in Brazil, issued by the CPC and approved by the CVM and the CFC, applicable to the preparation of the Interim Financial Information (ITR), and presented in accordance with the standards issued by CVM. Significant uncertainty as to the ability to continue as a going concern We draw attention to note 1 to the interim financial information, which states that the Company incurred loss of R$493,245 thousand during the period ended September 30, In addition, as of the same date, the Company s accumulated losses amounted to R$2,363,230 thousand. As discussed in note 1, these events or conditions, together with other matters described in note 1, significantly impact the Company s financial flow, requiring the Company to renegotiate its corporate debts as a condition to balance and adequate its financial flow to its current reality. If these actions and the strategic plan are unsuccessful, these conditions indicate the existence of relevant uncertainty that may cast significant doubt as to the Company s ability to continue as a going concern. Our conclusion is not qualified regarding this matter. Emphasis of matter Revenue recognition As described in note 2, the individual (Parent) and consolidated interim financial information has been prepared in accordance with accounting practices adopted in Brazil (CPC 21 (R1)). The consolidated interim financial information prepared in accordance with the International Financial Reporting Standards (IFRS) applicable to real estate development entities in Brazil also considers Technical Instruction OCPC 04 - Application of Technical Interpretation ICPC 02 to real estate development entities in Brazil issued by the Accounting Pronouncements Committee (CPC). This technical instruction addresses the recognition of revenue by real estate development entities, including the matters related to the meaning and application of the concept of continuous transfer of risks, rewards and control on the sale of real estate units, as described in note 2. Our conclusion is not qualified regarding this matter.

5 5 Other matters Interim statements of value added We have also reviewed the individual and consolidated statements of value added ( DVA ) for the nine-month period ended September 30, 2017, prepared under the responsibility of the Company s management, the presentation of which is required by the standards issued by the Brazilian Securities Commission (CVM) applicable to the preparation of Interim Financial Information (ITR), and is considered supplemental information for IFRS, which does not require the presentation of a DVA. This information was subject to the same review procedures described above and, based on our review, nothing has come to our attention that causes us to believe that they are not prepared, in all material respects, in accordance with the individual and consolidated interim financial information taken as a whole. São Paulo, November 09, 2017.

6 6 ROSSI RESIDENCIAL S.A. AND SUBSIDIARIES (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) BALANCE SHEETS AS AT DECEMBER 30, 2017 (In thousands of Brazilian reais - R$) ASSETS Parent Consolidated Note 09/30/ /31/ /30/ /31/2016 CURRENT ASSETS Cash and cash equivalents 3 4,277 3,439 33,125 45,883 Securities 4 3,222 8,829 23,711 16,585 Trade receivables 5 137, , , ,394 Properties for sale 6 46,563 59, , ,486 Other receivables 8 149, , , ,598 Total current assets 340, ,603 1,617,899 1,997,946 NONCURRENT ASSETS Trade receivables 5 26,899 39, , ,510 Properties for sale 6 11,574 9, , ,076 Escrow deposits 16 74,748 59, ,251 81,907 Related parties 18 1,973,989 2,044, , ,080 Advances to business partners 7 506, , , ,710 Investments 9 3,248,453 3,383,962 1,122,567 1,194,984 Property, plant and equipment 10 11,504 14,129 18,228 22,954 Intangible assets 11 51,726 61,882 52,023 62,197 Total noncurrent assets 5,904,988 6,138,131 2,580,776 2,819,418 TOTAL ASSETS 6,245,980 6,505,734 4,198,675 4,817,364 The accompanying notes are an integral part of this interim financial information.

7 7 ROSSI RESIDENCIAL S.A. AND SUBSIDIARIES (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) BALANCE SHEETS AS AT DECEMBER 30, 2017 (In thousands of Brazilian reais - R$) LIABILITIES Parent Consolidated Note 09/30/ /31/ /30/ /31/2016 CURRENT LIABILITIES Borrowings and financing , , ,530 1,016,428 Trade payables 21,802 17,965 54,166 47,249 Payables for purchases of land 13a , ,325 Payroll and related taxes 3,775 2,277 8,219 8,515 Taxes and contributions payable 4,641 5,223 22,549 21,411 Profit sharing - Management and employees 1,798 2,598 1,798 2,598 Advances from customers 13b , ,552 Related parties 18 2,445,885 2,482, , ,297 Deferred taxes and contributions 17a 1,536 1,081 34,714 41,297 Other payables , , , ,760 Total current liabilities 3,026,381 3,058,876 2,332,288 2,671,432 NONCURRENT LIABILITIES Borrowings and financing , ,773 1,259,982 1,025,953 Payables for purchases of land 13a - - 5,125 1,155 Taxes and contributions payable 16 21,356 21,356 31,061 25,554 Provisions for risks 16 26,125 15,680 89,851 86,855 Provisions for construction warranty 1,948 2,044 16,560 20,073 Deferred taxes and contributions 17a ,715 39,119 Allow ances for investment losses 14 1,918,112 1,781, , ,527 Other payables 15 36,928 68,367 77, ,121 Total noncurrent liabilities 2,984,911 2,732,223 1,625,970 1,412,357 EQUITY Capital 24a 2,611,390 2,611,390 2,611,390 2,611,390 Treasury shares 24b (83,313) (83,313) (83,313) (83,313) Capital reserve 24c 69,841 69,134 69,841 69,134 Accumulated losses (2,363,230) (1,882,576) (2,363,230) (1,882,576) Profit (loss) for the period Total equity atributtable to Company s owners 234, , , ,635 Noncontrolling interests - - 5,729 18,940 Total equity 234, , , ,575 TOTAL LIABILITIES AND EQUITY 6,245,980 6,505,734 4,198,675 4,817,364 The accompanying notes are an integral part of this interim financial information.

8 8 ROSSI RESIDENCIAL S.A. AND SUBSIDIARIES (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) STATEMENT OF PROFIT AND LOSS FOR THE PERIOD ENDED SEPTEMBER 30, 2017 (In thousands of Brazilian reais - R$, except earnings [loss] per share) Note 07/01/2017 to 09/30/ /01/2017 to 09/30/2017 Parent 07/01/2016 to 09/30/ /01/2016 to 09/30/ /01/2017 to 09/30/ /01/2017 to 09/30/2017 Consolidated 07/01/2016 to 09/30/ /01/2016 to 09/30/2016 NET REVENUE 19 2,525 9,374 5,937 23,461 42, , , ,387 COST OF PROPERTIES SOLD AND SERVICES PROVIDED (12,399) (463) (2,259) (91,931) (320,081) (139,427) (365,026) GROSS PROFIT 2,633 (3,025) 5,474 21,202 (49,039) (70,229) 108 2,361 INCOME (EXPENSES) Administrative expenses 21 a (11,056) (34,341) (11,861) (43,120) (14,895) (44,833) (17,230) (60,064) Selling expenses 21 b 1,740 (1,612) (3,751) (10,466) (6,730) (29,423) (19,351) (57,098) Management fees 18b (1,216) (3,580) (1,162) (2,867) (1,216) (3,580) (1,162) (2,867) Depreciation and amortization (4,128) (12,548) (4,107) (13,114) (3,188) (13,374) (4,801) (15,153) Share of profit (loss) of investees (84,865) (219,041) (86,423) (203,885) (21,057) (52,882) (31,712) (25,574) Other operating income (expenses), net 21c (16,690) (57,977) (8,983) (37,465) (27,327) (102,511) (32,352) (118,229) PROFIT (LOSS) FROM OPERATIONS BEFORE FNANCE INCOME (COSTS) (113,582) (332,124) (110,813) (289,715) (123,452) (316,832) (106,500) (276,624) FINANCE INCOME 22 1,438 5,991 1,601 7,637 3,949 16,433 7,207 30,209 FINANCE COSTS 22 (43,851) (154,521) (51,112) (145,369) (51,829) (198,715) (69,550) (186,512) PROFIT (LOSS) BEFORE TAXES (155,995) (480,654) (160,324) (427,447) (171,332) (499,114) (168,843) (432,927) INCOME TAX AND SOCIAL CONTRIBUTION Current 17d ,819 (3,475) (4,503) (10,615) Deferred 17d ,431 9,344 4,264 7,474 PROFIT (LOSS) FOR THE PERIOD (155,995) (480,654) (160,324) (427,447) (163,082) (493,245) (169,082) (436,068) Profit (loss) attributable to: Company's owners (155,995) (480,654) (160,324) (427,447) Noncontrolling interests (7,087) (12,591) (8,758) (8,621) PROFIT (LOSS) PER SHARE ATTRIBUTABLE TO COMPANY'S OWNERS (EXPRESSED IN R$ PER SHARE) Basic 24d (9.0943) ( ) (9.3467) ( ) Diluted 24d (9.0943) ( ) (9.3467) ( ) The accompanying notes are an integral part of this interim financial information.

9 9 ROSSI RESIDENCIAL S.A. AND SUBSIDIARIES (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) STATEMENT OF COMPREHENSIVE LOSS FOR THE PERIOD ENDED SEPTEMBER 30, 2017 (In thousands of Brazilian reais - R$) Parent Consolidated Note 07/01/2017 to 09/30/ /01/2017 to 09/30/ /01/2016 to 09/30/ /01/2016 to 09/30/ /01/2017 to 09/30/ /01/2017 to 09/30/ /01/2016 to 09/30/ /01/2016 to 09/30/2016 LOSS FOR THE PERIOD (155,995) (480,654) (160,324) (427,447) (163,082) (493,245) (169,082) (436,068) Other comprehensive income COMPREHENSIVE LOSS FOR THE PERIOD (155,995) (480,654) (160,324) (427,447) (163,082) (493,245) (169,082) (436,068) Comprehensive loss attributable to: Company's owners - - (155,995) (480,654) (160,324) (427,447) Noncontrolling interests - - (7,087) (12,591) (8,758) (8,621) COMPREHENSIVE LOSS ATTRIBUTABLE TO COMPANY'S OWNERS (EXPRESSED IN R$ PER SHARE) Basic 24d (9.0943) ( ) (9.347) ( ) Diluted 24d (9.0943) ( ) (9.347) ( ) The accompanying notes are an integral part of this interim financial information.

10 10 ROSSI RESIDENCIAL S.A. AND SUBSIDIARIES (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) STATEMENTS OF CHANGES IN EQUITY FOR THE PERIOD ENDED SEPTEMBER 30, 2017 (In thousands of Brazilian reais - R$) Treasury Capital Accumulated Noncontrolling Consolidated Capital shares reserve losses Equity interests equity BALANCES AT DECEMBER 31, ,611,390 (83,313) 66,197 (1,368,203) 1,226,071 42,724 1,268,795 Capital increase by noncontrolling shareholders ,420 8,420 Share-based payment - - 2,810-2,810-2,810 Profit (loss) for the period (427,447) (427,447) (8,621) (436,068) BALANCES AS AT SEPTEMBER 30, ,611,390 (83,313) 69,007 (1,795,650) 801,434 42, ,957 BALANCES AS AT DECEMBER 31, ,611,390 (83,313) 69,134 (1,882,576) 714,635 18, ,575 Capital reduction by noncontrolling shareholders (620) (620) Share-based payment Loss for the period (480,654) (480,654) (12,591) (493,245) BALANCES AS AT SEPTEMBER 30, ,611,390 (83,313) 69,841 (2,363,230) 234,688 5, ,417 The accompanying notes are an integral part of this interim financial information.

11 11 ROSSI RESIDENCIAL S.A. AND SUBSIDIARIES (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) STATEMENTS OF VALUE ADDED FOR THE PERIOD ENDED SEPTEMBER 30, 2017 (In thousands of Brazilian reais - R$) Parent Consolidated 09/30/ /30/ /30/ /30/2016 REVENUES Properties sold and services provided 9,929 25, , ,578 Other income (expenses) (6,359) (11,577) (23,350) (30,978) Recognition (reversal) of allow ance for doubtful debts 1,864 (2,858) 1,162 (6,643) 5,434 11, , ,957 INPUTS ACQUIRED FROM THIRD PARTIES Costs of properties sold (12,383) (1,960) (241,810) (252,942) Materials, electric pow er, outside parties and other (56,583) (47,983) (126,272) (145,093) (68,966) (49,943) (368,082) (398,035) GROSS VALUE ADDED (63,532) (38,744) (141,320) (56,078) RETENTIONS Depreciation and amortization (12,581) (13,114) (12,707) (15,153) Goodw ill realization - (5,282) - (5,282) Wealth created by the entity (76,113) (57,140) (154,027) (76,513) WEALTH CREATED IN TRANSFER Share of profit (loss) of investees (219,041) (203,885) (52,896) (25,574) Finance income 6,381 7,992 17,232 31,487 Other items (12,132) - (12,118) (224,792) (195,893) (47,782) 5,913 TOTAL WEALTH FOR DISTRIBUTION (300,905) (253,033) (201,809) (70,600) Wealth distributed Personnel expenses Salaries and w ages 13,739 12,313 19,895 47,495 Benefits 2,435 4,518 5,969 8,940 Severance Pay Fund (FGTS) 1,623 2,183 5,972 8,210 Taxes and contributions 17,797 19,014 31,836 64,645 Federal 7,132 4,451 2,975 20,168 State Municipal 828 2,437 7,193 8,757 8,040 7,256 10,290 29,352 Lenders and lessors Interest expense and banking fees 151, , , ,142 Rentals 2,461 3,998 3,714 10, , , , ,471 Shareholders Equity capital (Losses incurred) retained earnings (480,654) (427,447) (480,654) (427,447) (480,654) (427,447) (480,654) (427,447) Noncontrolling interests in retained earnings (12,591) (8,621) (300,905) (253,033) (201,809) (70,600) The accompanying notes are an integral part of this interim financial information.

12 12 ROSSI RESIDENCIAL S.A. AND SUBSIDIARIES (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) STATEMENT OF CASH FLOWS FOR THE PERIOD SEPTEMBER 30, 2017 (In thousands of Brazilian reais - R$) 09/30/ /30/ /30/ /30/2016 CASH FLOWS FROM OPERATING ACTIVITIES (Loss) Profit before income tax and social contribution (480,654) (427,447) (499,114) (432,927) Adjustments not affecting cash: Depreciation and amortization 12,548 13,114 13,374 15,153 Allowance for doubtful debts (1,864) 2,858 (822) 6,653 Adjustment to present value - (178) 3,038 (3,235) Provisions for risks 10,445 5,877 2,996 21,203 Write-off of escrow deposits 12,100 12,797 14,131 16,029 Provision for construction warranty (96) - (2,788) (6,113) Share-based payment 707 2, ,810 Accrued profit sharing - (144) - (144) Share of profit (loss) of investees 219, ,885 52,882 25,574 Gain on sale of investments (2,376) 892 (2,577) 1,903 Goodwill on acquisition of investments / Intangible assets 12,135 5,282 4,030 5,282 Fixed and intangible assets disposed of ,525 3,166 Deferred taxes and contributions 476 (2,011) (4,643) (9,911) Interest and finance charges, net 134, , , ,750 (83,195) (42,051) (235,756) (146,807) Changes in operating assets and liabilities: Decrease (increase) in trade receivables 36,725 4, , ,708 Decrease (increase) in properties for sale 11,099 (22,419) 208,054 (60,093) Decrease (increase) in other receivables, net of Items classified in liabilities 15, ,853 36,020 Decrease (increase) in other assets (26,901) (31,299) (35,475) (37,711) Increase (decrease) in payables for purchases of land - - (28,017) (47,060) Increase (decrease) in taxes and contributions (582) (44) 3,170 1,799 Increase (decrease) in advances from customers (447) 368 (22,331) 26,227 Increase (reduction) in profit sharing - management and employees (800) - (800) - Increase (decrease) in other payables 5, ,804 26,520 Other: - - Interest expense (89,942) (46,186) (120,121) (103,435) Income tax and social contribution paid - - (6,183) (10,953) Net cash provided by (used in) operating activities (133,475) (135,957) (42,292) (167,785) CASH FLOWS FROM INVESTING ACTIVITIES (Acquisition) sale of investments 13,346 (933) 30,903 54,356 Dividends received - 35,344 14,738 12,233 Redemption of (investment in) securities 5,607 23,530 (7,126) 23,305 Purchase of property, plant and equipment - - (17) (195) Acquisition of software (5,282) (5,339) (5,282) (5,339) Net cash provided by/(used in) investing activities 13,671 52,602 33,216 84,360 Parent Consolidated CASH FLOWS FROM FINANCING ACTIVITIES Related-party transactions 52, ,973 31,437 (15,711) Other transactions with noncontrolling shareholders - - (620) 8,420 Borrowings and financing: Borrowings 270, , ,886 Repayments (202,136) (29,617) (397,797) (216,521) Net cash provided by (used in) financing activities 120,642 76,356 (3,682) (926) INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 838 (6,999) (12,758) (84,351) CASH AND CASH EQUIVALENTS At beginning of period 3,439 13,627 45, ,220 At end of period 4,277 6,628 33,125 61,869 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 838 (6,999) (12,758) (84,351) The accompanying notes are an integral part of this interim financial information.

13 13 Notes to the interim financial information for the period ended September 30, 2017 (in thousands of Brazilian reais - R$, except per share value or when otherwise stated) (Free translation from the original issued in Portuguese. In the event of discrepancies, the Portuguese language version should prevail.) 1. General information Rossi Residencial S.A. ( Company or Rossi Residencial ) and its investees are engaged in: (a) the development, construction and sale of residential and commercial properties, and land subdivision; (b) the provision of civil engineering services through own operations, and (c) holding interests in Special Purpose Entities (SPEs) and consortia. The Company is a corporation domiciled in Brazil, with its headquarters in São Paulo, State of São Paulo, registered with the Brazilian Securities Commission (CVM) since July 1, 1997, and with shares traded under the ticker symbol RSID3 on the São Paulo Stock Exchange ( B3, formerly BM&F BOVESPA ), included in the Novo Mercado segment in January Operational and financial restructuring The Company identified the need to adjust its cash flow to its operational and financial obligations in view of the significant losses recorded in the current period and in prior years, among other factors. Therefore, since August 2015, the Company s management has been engaged in a process to reorganize its operations and restructure its debts, especially its corporate debts, for which the first phase has already been completed, as disclosed in prior quarters. The second phase of the renegotiation process was started and the Company has now been working with financial institutions for a new solution for its corporate debts, mainly the short-term ones, that allows the Company to better adjust its future financial flow.

14 14 The following actions have been taken through the reporting date: 1. Significant reduction of the Company s fixed and operating costs to adjust its operations to the adverse conditions of the market; a) The reductions of operating costs are part of the Company s management s strategy to complete works within the planned timeframes, with the consequent reduction of overhead expenses, reduction of the Head Office s administrative structure, optimization of its strategy to operate in other States, and reduction of selling expenses; b) Regarding the Company s operations in other States, on August 29, 2017, the Company disclosed a Material Fact Notice announcing its decision to end the jointventure Capital Rossi Empreendimentos S.A. ( Capital Rossi ), created in 2010 through an association with Construtora Capital S.A. This decision is aligned with the Company s strategy to restructure operations, reduce its administrative structure and focus its activities on certain regions of Brazil. As at September 30, 2017, the arrangements to end this partnership are in progress. Making cash disbursements will not be necessary since the assets held by the joint venture will be split. 2. Increase in the Company s cash generation in recent periods, postponement of some launches, acceleration of the process to cancel agreements with default clients, and subsequent sale of repossessed units, sale of plots of land considered to be non-strategic for the Company (cash receipt of R$193 million from 2015 to September 2017), and improvement of the process to transfer units; 3. Corporate debts: a) Completion of the first phase of the corporate debt restructuring plan with Banco Bradesco and Banco do Brasil, whereby an extension of the average duration of the debts from 10 to 39 months was obtained, with a significant reduction of their finance costs, as discussed in note 12 and disclosed to the market in March 2016 and July 2016; and b) Continuity in 2017 of the Company s corporate debt restructuring plan with the primary objective of adjusting is future cash flow, especially for those installments maturing in the short term; and c) Winding-up of the operations with business partner RB Capital, as informed in the material fact notice disclosed on June 28, 2017, which will allow the Company to benefit from a decrease of approximately R$110 million in its corporate joint liability, thereby immediately reducing its leverage and finance costs, in addition to savings on the carrying cost of inventories (real estate units completed) which will be delivered to fully amortize the debt. As at September 30, 2017, the arrangements related to the end of this partnership are in progress;

15 15 4. Completing the first debt restructuring phase and accounting for its effects allowed the Company s net working capital to become positive, without considering related-party balances which are currently stated in current liabilities (R$846 million) and refer to balances with investees that have not been included in the consolidated interim financial information of Rossi Residencial, according to accounting practices and standards (IFRS). Considering this elimination with unconsolidated investees, the impact is offset and the Company s net working capital becomes positive by R$132 million. Finally, although we understand that the strategic plan has been implemented successfully to date, there are other risk factors, some of which described below, that may adversely impact the proposed plans: a) Political and economic crisis: despite Brazil s prospects of economic recovery are better today than in the past, 2017 is still going through a recession cycle, worsened by the uncertainty in the current political scenario. The deterioration of the economic scenario, with high interest rates, rising unemployment rates, drop in consumer confidence, a stricter policy for mortgage lending, caused households, companies and the government to be highly indebted. In this scenario, profound adjustments need to be made, indicating a slow recovery through the unleverage of the main economic agents and a gradual upturn in the pace of investments; b) Real estate industry: in 2016, selling prices declined beyond expected and a high number of cancellations was recorded shows a modest recovery of the industry, with normalization of the inventory levels and sales; however, the risk of cancellations still exists, given the recession the country is going through and the fact that the real estate industry is dependent on a better economic scenario. 2. Presentation of interim financial information and significant accounting policies 2.1. Statement of compliance The Company s interim financial information comprises: a) The Parent s individual interim financial information prepared in accordance with Technical Pronouncement CPC 21 (R1) Interim Financial Reporting and the standards issued by the Brazilian Securities Commission (CVM) applicable to the preparation of Interim Financial Information (ITR), identified as Parent, and b) The consolidated interim financial information prepared in accordance with accounting practices adopted in Brazil, as set out in Technical pronouncement CPC 26 (R1) Presentation of Financial Statements and international standard IAS 1 Presentation of Financial Statements, issued by IASB ( IFRSs ), which include technical guidance OCPC 04 on the application of technical interpretation ICPC 02 Real Estate Construction Agreement, issued by the Accounting Pronouncements Committee (CPC), approved by the Brazilian Securities Commission (CVM) and the Federal Accounting Council (CFC), identified as Consolidated ; c) The Company s management hereby declares and asserts that all relevant information for the individual and consolidated interim financial information is disclosed and that it corresponds to the information used by Management in managing the Company.

16 Basis of preparation The interim financial information has been prepared at the historical cost, except for certain assets and liabilities which were measured at present value and certain inventory items which were measured at realizable value. In preparing the interim financial information in accordance with IFRSs, applicable to real estate development entities in Brazil, accounting estimates were used and judgment was exercised by the Company s management. The Company develops its real estate projects using the corporate structures of Special Purpose Entities (SPEs) and consortia, through the segregation of assets related to these projects through these structures. The information related to the basis for preparation and presentation of the interim financial information, the summary of the significant accounting policies and the use of estimates and judgment did not change as compared to the information disclosed in note 2 to the annual financial statements for the year ended December 31, 2016 (hereinafter referred to as financial statements for the year ended December 31, 2016 ), published on March 24, 2017 on newspapers DCI and São Paulo State s Official Gazette, and made available on the following websites: and Basis of consolidation and investments in subsidiaries The individual and consolidated interim financial information includes the interim financial information of the Company and those of the entities controlled by the Company directly, or indirectly, through its subsidiaries. Control is achieved when the Company: Has power over the investee; Is exposed or is entitled to variable returns arising from its investment in the investee; Has the ability to use such power to affect its variable returns. The Company reassesses whether it controls or not an investee if facts and circumstances indicate that there are changes in one or more of the three elements of control listed above. In entities where the Company needs to obtain the agreement of other shareholders with respect to significant activities that affect the variable returns of an entity, the Company has a joint arrangement in the entity, which can be classified either as joint operation or joint venture. The consolidation of a subsidiary begins when the Company acquires control over the subsidiary and ends when such control ceases to exist. Specifically, revenue and expenses of a subsidiary acquired or sold during the period are included in the income statement and other comprehensive income as from the date the Company acquires control through the date the Company ceases to control the subsidiary. All intragroup transactions, balances, income and expenses are fully eliminated on consolidation. In the Company s individual interim financial information, the interim financial information of the subsidiaries and joint ventures are recognized under the equity method.

17 17 The accounting policies are consistently applied in all consolidated companies, and the financial statements of investees are prepared for the same reporting period. As described in note 2.1, the individual interim financial information has been prepared in accordance with accounting practices adopted in Brazil. In the case of the Company, these practices differ from the IFRSs applicable to real estate entities in Brazil, for the separate interim financial information, only with respect to the capitalization of interest incurred by the Parent, in relation to the subsidiaries assets, in the individual financial statements. For IFRS purposes, this capitalization is permitted only for consolidated financial statements and not for separate financial statements. Since there is no difference between the Parent's and the consolidated equity and profit (loss), the Company elected to present this individual and consolidated financial information in a single set New and revised standards and interpretations New and revised standards and interpretations already issued and not yet applicable for adoption: Standard Description Effective date IFRS 9 Financial instruments January 1, 2018 IFRS 15 Revenue from Contracts with Customers January 1, 2018 IFRS 16 Leases January 1, 2019 IAS 28 /CPC 18 - Investment in Associates, Subsidiaries and Joint Ventures Measurement at fair value of associates and joint ventures January 1, 2018 IFRS 2/CPC 10 Share-based Classification and measurement of share-based January 1, 2018 payments payment transactions IAS 40/CPC 28 - Investment Property Transfers to investment properties January 1, 2018 These standards are expected to be issued the Brazilian Securities Commission (CVM) and the Federal Accounting Council (CFC) so that they can be adopted as from their effective date. The Company s management is in process of evaluating the impacts of the new standards and interpretations already issued but not yet adopted; however, no significant impacts are expected, except for IFRS 15. Concerning IFRS 15 Revenue from Contracts with Customers, on November 4, 2016, CPC 47, Revenue from Contracts with Customers, was issued. This new standard significantly changes the rules and criteria to define when revenue from contracts with customers should be recognized and this may change the percentage-of-completion method. The effects of its application are still being evaluated by the Company. New and revised standards and interpretations already issued and adopted The following new and revised International Financial Reporting Standards (IFRSs), effective for annual periods beginning on or after January 1, 2017, have been adopted in the interim financial information. The adoption of these new and revised IFRSs, as listed below, did not have any significant impact on the amounts reported and/or disclosed for the current and prior years. Amendments to IAS 7/CPC 03 - Disclosure of Changes in Cash Flows from Financing Activities; Amendments to IAS 12/CPC 32 -Recognition of Deferred Tax Assets on Unrealized Losses.

18 18 3. Cash and cash equivalents Cash and cash equivalents are represented basically by banks and investments in savings accounts with average yield interest of % per month. Short-term investments recorded as cash and cash equivalents are immediately convertible into a known cash amount and are subject to an insignificant risk of change in value. Parent Consolidated 09/30/ /31/ /30/ /31/2016 Cash and banks: 4,120 2,234 32,512 44,201 Short-term investments: Restricted savings account ,277 3,439 33,125 45, Securities Parent Consolidated 09/30/ /31/ /30/ /31/2016 Investment funds ,869 1,270 Repurchase agreements ,891 Bank Certificates of Deposit (CDBs) 2,819 8,444 15,419 12,424 Total 3,222 8,829 23,711 16,585 Assets 3,222 8,829 23,711 16,585 The financial instruments approximate their market values and are classified as loans and receivables and, accordingly, stated under the amortized cost method, i.e., interest is recognized based on the effective rate of each instrument. These securities yield 101% to 101.5% of the DI CETIP CDI. 5. Trade receivables Parent Consolidated 09/30/ /31/ /30/ /31/2016 Units under construction , ,978 Adjustment to present value - - (5,822) (4,608) Sale of land 28,210 25,745 28,455 25,990 Completed units 151, , , ,426 Services provided 266 9,727 4,664 6,088 Allowance for doubtful debts (15,249) (17,113) (25,148) (25,970) 164, , ,015 1,074,904 Current 137, , , ,394 Noncurrent 26,899 39, , ,510 The balances classified as completed units refer to receivables from customers for works that have been completed and are in the process of being released for assignment and transfer to the financial institutions that financed the respective projects. The adjustment to present value was calculated on the receivables from the sale of units under construction, using the average discount rate of 6.09% at September 30, 2017 (8.49% at December 31, 2016).

19 19 The adjustment to net present value accounted for in profit or loss, in line item sale of properties, totaled R$1,214, Consolidated, in the period ended September 30, 2017 (R$2,594 at September 30, 2016). The aging list of trade receivables is as follows: Parent Consolidated 09/30/ /31/ /30/ /31/2016 Past due: Up to 60 days 6,917 6,462 67,442 54, to 90 days 3,136 3,700 16,496 39, to 180 days 9,677 8, ,044 66,389 Over 180 days 93,821 91, , , , , , ,136 Current: Up to 1 year 23,841 49, , ,258 2 to 3 years 7,832 17,536 40,215 45,327 Over 3 years 19,067 22,336 82,852 85,183 50,740 89, , , , , ,015 1,074,904 Changes in the allowance for doubtful debts in the periods ended September 30, 2017 and 2016 are as follows: Parent Consolidated 09/30/ /30/2016 Balance at December 31, ,543 18,179 Additions 4,455 12,695 Reversals (1,597) (6,042) Balance at September 30, ,401 24,832 Parent Consolidated 09/30/ /30/2016 Balance at December 31, ,113 25,970 Additions 10,714 15,644 Reversals (12,578) (16,466) Balance at September 30, ,249 25,148 Assignment of receivables The Company has receivable assignment transactions with financial institutions which have guarantee clauses to protect against future losses. Consequently, the Company fully maintained the balances of these assignments in trade receivables and recognized the amount received in this transfer as receivable assignment, in line item Borrowings and financing. As at September 30, 2017, the carrying amount of the respective liability is R$9,384, Parent, and R$10,645, consolidated (R$11,989, Parent, and R$13,591, consolidated, as at December 31, 2016), as described in note 12.

20 20 6. Properties for Sale Parent Consolidated 09/30/ /31/ /30/ /31/2016 Completed properties (i) 44,739 58, , ,658 Properties under construction (i) , ,684 Land for future developments (i) 11,574 9, , ,000 Materials - - 2,743 5,036 Advances to suppliers 1,824 1,685 2,350 2,644 Capitalized interest (ii) ,773 47,540 58,137 69,236 1,166,672 1,377,562 Assets 46,563 59, , ,486 Noncurrent 11,574 9, , ,076 (i) Land for future development is classified in current assets or noncurrent assets based on the expected launch period of the real estate projects, which is periodically reviewed by Management. Properties under construction and completed units are classified in current assets, according to their availability for sale. (ii) Financing costs of construction in progress are capitalized in Properties for sale and recorded in profit or loss in Cost of properties sold as units are sold. Financing costs recorded in profit or loss in line item Cost of properties sold totaled R$49,613, consolidated, as at September 30, 2017 (R$74,281 as at September 30, 2016), and are recorded in profit and loss in accordance with OCPC 01 (R1). 7. Advances to business partners Parent Consolidated 09/30/ /31/ /30/ /31/2016 Advances to business partners 506, , , ,710 Advances to business partners balances refer to contributions made in amounts exceeding the Company s interest in the real estate projects, which will be realized through the cash to be generated by such projects, during and at the end of the execution of these projects.part of these advances yield interest ranging from 2% to 5% above the CDI. The Company conducted share acquisition transactions of investees that, in light of specific contractual provisions on the retention of certain risks by another party, are recognized in assets as Advances to business partners and yield from 2% to 3% above the CDI per year. The balance of these transactions at September 30, 2017 and December 31, 2016 was R$37,792. a) Changes in advances to business partners: Impact on cash flow Parent Consolidated Balance at December 31, , ,710 Cash receipts from partners (return of contributions) Increase (29,302) (72,988) Advances to partners (new contributions) Reduction 10,991 26,465 Balance at September 30, , ,187

21 21 8. Other receivables Parent Consolidated 09/30/ /31/ /30/ /31/2016 Dividends and profits receivable 120, ,100 26,052 48,405 Recoverable taxes 8,798 10,116 55,383 59,073 Prepaid expenses 1,362 1,719 3,467 7,106 Other (i) 19,241 11,402 31,231 28, , , , ,598 (i) Refers to sundry advances and loans to employees. 9. Investments Investments Parent and consolidated are summarized as follows: Parent Consolidated 09/30/ /31/ /30/ /31/2016 Subsidiaries Wholly-owned 2,075,541 2,112, Due to management of core activities 99 11, ,075,640 2,124, Non-controlled entities Due to non-management of core activities 1,021,416 1,092,098 1,031,223 1,099,456 Goodwill 107, ,888 91,344 95,528 Capitalized interest 43,644 47, ,248,453 3,383,962 1,122,567 1,194,984 Investments in investees that record equity deficiency have been reclassified to line item Allowance for investment losses (note 14), since the Company assumes all the obligations, including the legal obligations prescribed by the Brazilian legislation. Interest allocated to real estate projects of investees are capitalized to the respective investments in Parent and consolidated in line item Inventories. Investments, assets and liabilities, equity and profit and loss for the period ended September 30, 2017 and year ended December 31, 2016 of investees are detailed in Exhibit I thereto. Changes in investments for the periods ended September 30, 2017 and 2016 are as follows: Parent Consolidated Balance at December 31, ,061,831 1,317,915 Increase (decrease) in investments 41 (66,176) Goodwill realization (5,282) (5,282) Share of profit (loss) of investees (203,885) (25,574) Capitalized interest, net of gain (loss) recognized (6,030) - Dividends declared (17,654) - Transfer to allowance for investment losses (note 14) 190,963 (11,359) Balance at September 30, ,019,984 1,209,524 Parent Consolidated Balance at December 31, ,383,962 1,194,984 Increase (decrease) in investments (10,970) (28,310) Goodwill realization (12,135) (4,030) Share of profit (loss) of investees (219,041) (52,882) Capitalized interest, net of gain (loss) recognized (3,895) - Dividends declared (25,847) - Transfer to allowance for investment losses (note 14) 136,380 12,803 Balance at September 30, ,248,453 1,122,567

22 22 Goodwill Amortization amounts exceeding the purchase book value are recognized in profit or loss by applying the Undivided Interest of Land percentages and the percentage of completion corresponding to each one of the real estate projects: Parent Consolidated 09/30/ /31/ /30/ /31/2016 Intangible assets Properties for sale: Properties under construction 29,634 40,206 19,006 21,743 Land for future developments 77,721 79,149 72,236 73, , ,355 91,242 95, , ,888 91,344 95, Property, plant and equipment Annual depreciation rate Parent Consolidated - % 09/30/ /31/ /30/ /31/2016 Land ,577 1,577 Machinery and equipment 10 20,680 20,735 27,839 27,895 Furniture and fixtures 10 2,806 3,251 3,282 3,977 Facilities 10 12,064 12,112 14,222 14,269 IT equipment Sales stands ,226 6,411 Other property, plant and equipment ,653 36,202 52,492 54,500 Accumulated depreciation (24,149) (22,073) (34,264) (31,546) 11,504 14,129 18,228 22,954 At the end of each year, the Company tests its assets for impairment to determine whether there are any indications that the assets might be impaired. As at December 31, 2016, the Company s management revised and did not identify any indications that property, plant and equipment may be impaired. Changes in property, plant and equipment Machinery and equipment Furniture and fixtures Parent Facilities IT equipment Total Balance at 12/31/ ,941 1,274 5, ,871 Write-offs - (226) (338) - (564) Depreciation (1,556) (169) (569) (7) (2,301) Balance at 09/30/2016 9, , ,006 Machinery and equipment Furniture and fixtures Parent Facilities IT equipment Total Balance at 12/31/2016 8, , ,129 Write-offs (54) (162) (17) - (233) Depreciation (1,519) (178) (692) (3) (2,392) Balance at 09/30/2017 7, , ,504

23 23 Machinery and equipment Furniture and fixtures Facilities Consolidated IT equipment Stands Land Other Total Balance at 12/31/ ,862 1,606 6, ,383 1, ,.29 Additions Write-offs - (226) (338) (1) (2,588) - (13) (3,166) Depreciation (2,092) (214) (703) (12) (1,297) - (22) (4,340) Balance at 12/31/ ,770 1,284 5, ,519 1, ,218 Machinery and equipment Furniture and fixtures Consolidated Facilities IT equipment Stands Land Other Total Balance at 12,072 1,174 5, , ,954 12/31/2016 Additions Write-offs (56) (266) (16) (2) (1,185) - - (1,525) Depreciation (2,056) (216) (862) (8) (76) - - (3,218) Balance at 09/30/2017 9, , , , Intangible assets Annual amortization Parent Consolidated rate - % 09/30/ /31/ /30/ /31/2016 Goodwill Software licenses 10% and 20% 91,975 91,975 91,977 91,977 Accumulated amortization - (40,249) (30,093) (40,250) (30,093) 51,726 61,882 52,023 62,197 Changes in intangible assets Parent Consolidated Balance at December 31, ,613 30,046 Increase in (realization of) goodwill on acquisition - 12,709 Goodwill realization - (2,792) Software purchases (i) 46,520 46,520 Software - amortization (10,813) (10,813) Balance at September 30, ,320 75,670 Parent Consolidated Balance at December 31, ,882 62,197 Goodwill realization - (18) Software - amortization (10,156) (10,156) Balance at September 30, ,726 52,023 (i) In 2016, the Company renewed the data hosting agreement with the vendor for a period of 10 years beginning January 1, 2016 (note 15). Leases Annual rate (ii) Purchase price 42,577 (-) Accumulated amortization 10% (7,451) Balance at 09/30/ ,126 (ii) Rate defined according the economic useful life of the intangible asset.

24 Borrowings and financing Parent Consolidated 09/30/ /31/ /30/ /31/2016 Mortgage loans (a) 982,294 1,024,954 1,649,364 1,788,598 Assignment of receivables (b) 9,384 11,989 10,645 13,591 Working capital loans (c) 402, , , ,192 1,394,181 1,277,135 2,066,512 2,042,381 Current 414, , ,530 1,016,428 Noncurrent 980, ,773 1,259,982 1,025,953 Corporate debts renegotiated In June 2016, the Company s management completed the restructuring of its corporate financial debts with Banco Bradesco and Banco do Brasil, as informed in a notice to the market disclosed on July 1, Banco Bradesco approved the extension of the Company s corporate debt in the amount of approximately R$820 million, establishing a new repayment term of 72 months and a grace period for the principal during the first 12 months. Banco do Brasil approved the extension of the Company s debt in the amount of approximately R$228 million, establishing a new repayment term of 48 months and an 18-month grace period. The account balances of these corporate debts in this interim financial information already reflect the new agreed-upon conditions. Debts by category (a) Mortgage loans Financing for construction of properties (Operational) The Company has financing for construction of properties that is subject to interest rates ranging from 8.5% to 14.21% per year, indexed to the Reference Rate (TR), with amortization flow until These financing transactions are collateralized by mortgages and receivables from the respective properties. The consolidated balance at September 30, 2017 is R$667,070 (R$763,644 at December 31, 2016). Bank Credit Notes CCBs (Corporate) The Company has Bank Credit Notes (CCBs) issued for use in the development of real estate projects. These credit facilities are subject to finance charges ranging from 111% to 117% of the CDI per year. The principal is repaid in quarterly, semiannual and annual installments, starting in 2017 and with final settlement in The balance as at September 30, 2017 is R$982,294 (R$1,024,954 as at December 31, 2016). (b) Assignment of receivables Represented by lending operations assigned to financial institutions, arising from real estate unit sales agreements, subject to capitalized interest of 1.00% per month (12.68% per year) plus INCC or IGP-M (General Market Price Index) variation. The proceeds from the related collection of monthly installments are deposited in an account held by the Company. Expected losses on assigned agreements are secured to the assignee.

25 25 (c) Working capital loans (Corporate) Funds used for the development of real estate projects, and after the contractual amendments with renegotiation of maturity terms and financial costs, are subject to charges at 111% of the CDI. Principal and interest will be repaid in monthly, semiannual and annual installments starting in 2017 and with final settlement in Guarantees pledged after renegotiation are represented by land, real estate units and/or receivables from completed units, in addition to shares of certain companies (SPEs) controlled by the Company. Maturity schedule The table below shows the maturities of borrowings and financing outstanding as at September 30, 2017 and December 31, 2016: Parent Consolidated Year 09/30/ /31/ /30/ /31/ , , ,493 1,016, , , , , , , , ,398 After , , , ,988 1,394,181 1,277,135 2,066,512 2,042,381 Changes in borrowings and financing Impact on cash flow Parent Consolidated Balance at December 31, ,174,279 1,925,424 Additions Increase - 222,886 Repayments Reduction (29,617) (216,521) Accrued interest No effect 139, ,975 Interest expense Reduction (46,186) (103,435) Balance at September 30, ,238,268 2,026,329 Impact on cash flow Parent Consolidated Balance at December 31, ,277,135 2,042,381 Additions Increase 270, ,298 Repayments Reduction (202,136) (367,797) Accrued interest No effect 138, ,751 Interest expense Reduction (89,942) (120,121) Balance at September 30, ,394,181 2,066,512

26 Payables for purchase of land and advances from customers a) Payables for purchases of land Cash outflows are broken down as follows: Consolidated 09/30/ /31/ , ,112 Beginning ,216 1, , ,267 Adjustment to present value - (787) 125, ,480 Current 120, ,325 Noncurrent 5,125 1,155 Of a total of R$125,287, consolidated, R$23,709 will be settled with the share of revenues generated by the project to be developed in the respective plot of land. The remaining R$101,578, consolidated, will be paid in local currency, adjusted for inflation (basically at IGPM and INCC), according to the payment flows established by the realization of cash of projects to be launched. These payables are guaranteed by promissory notes, sureties or delivery guarantee insurance of the property, in case of physical barters. The adjustment to present value is accounted for as a contra entry to Properties for sale, at the initial recognition of land. Recognition in profit (loss) is made in accordance with the disbursement flow related to the acquisition of land, considering the average discount rate of 6.09% per year on September 30, 2017 (8.49% per year as at December 31, 2016), pursuant to the contractual clauses relating to interest and inflation adjustment of the balances payable. b) Advances from customers Parent Consolidated 09/30/ /31/ /30/ /31/2016 Advances from customers ,166 61,186 Advances from customers - barters , ,366 Current , ,552 Advances from customers correspond to the portion of amounts received from customers that exceeds the recognized revenue amounts. Advances from customers barters are represented by plots of land acquired by means of physical barters in projects, which contractual resolution clauses have been complied with, and are accounted for at their fair value, on the date of their initial recognition or on the date on which an evaluation is possible. The technique used was based on revenue, for which the fair value of the consideration was established and the quotation price of the assets related to the project was used; that is, the real estate project, rather than the active, market was used to determine the fair value of the bartered units.

27 Allowance for investment losses Parent Consolidated 09/30/ /31/ /30/ /31/2016 Allowance for equity deficiency of investees 1,918,112 1,781, , ,527 Changes in allowance for investment losses for the periods ended September 30, 2017 and December 31, 2016 are as follows: Parent Consolidated Balance at December 31, ,568, ,047 Transferred from investments (note 9) 213,301 (1,520) Balance at December 31, ,781, ,527 Parent Consolidated Balance at December 31, ,781, ,527 Transferred from investments (note 9) 136,380 12,803 Balance at September 30, ,918, ,330 The respective balances of assets and liabilities, equity deficiency and profit and loss for the periods ended September 30, 2017 and December 31, 2016 of these investees are detailed in Exhibit I thereto. 15. Other payables Parent Consolidated 09/30/ /31/ /30/ /31/2016 Payables business partners (i) 105, , , ,943 Payables for terminations of agreements (ii) 20,536 21, , ,351 Suppliers contractual retentions 1,604 1,633 23,127 25,820 Leases (iii) 34,718 40,000 34,718 40,000 Other 7,396 4,097 14,662 16, , , , ,881 Current 132, , , ,760 Noncurrent 36,928 68,367 77, ,121 (i) The Company conducted share acquisition transactions of investees that, in light of specific contractual provisions regarding certain risks it assumed, were recognized in liabilities (payables - business partners), indexed to the INCC-G rate plus 16% per year. On June 28, 2017, the Company disclosed a Material Fact Notice announcing to its shareholders and the general market the decision made in conjunction with its business partner to wind up these operations, discharging its corporate joint liability by delivering autonomous units from real estate projects developed by the Company or by its subsidiaries. The process of selecting units and completing the formal documentation of the transaction is in progress and is expected to be completed in the coming months; (ii) Management annually assesses the impacts of terminations as set forth in CPC 17(IAS 11) Construction Contract and, due to the high number of committed buyers that contacted the entity seeking to terminate their purchase agreements, an allowance for termination was recognized in the amount of R$46,488, consolidated; (iii) Finance lease (note 11). This obligation is indexed to the IGPM, with annual adjustments.

28 28 Payment flow: Up to one year: R$4,259; One to three years: R$8,516; Three to five years: R$8,516; After five years: R$13, Provisions for risks a) Labor issues The Company and its subsidiaries have been held liable for certain lawsuits filed with different courts, mainly deriving from joint and several liability for certain contractors obligations, whose controls used for reducing their exposure are monitored by the Company, which also makes contractual retentions to cover such disbursements. Based on the assessment of the Company s legal counsel and the contractual retentions made, the provision for risks is increased when lawsuits are assessed as probable loss. Lawsuits assessed as possible loss are not accrued by the Company and totaled R$56,249 as at September 30, 2017 (R$73,469 as at December 31, b) Civil issues The Company and its subsidiaries are parties to civil lawsuits, mainly related to the termination of sales contracts of residential units, resulting, in case of an unfavorable decision, in reimbursing the buyers part of the installments received, and civil damages actions. When risk of an unfavorable outcome is considered probable, the related provision is increased. Lawsuits assessed as possible loss are not accrued by the Company and totaled R$167,823 as at September 30, 2017 (R$123,526 as at December 31, 2016). c) Tax issues On November 27 and 30, 2009, the Company and its subsidiary América Properties Ltda., respectively, joined the tax installment plan called REFIS IV, created under Law No. 11,941 of May 27, 2009, for the payment of debts collected by the Federal Revenue Service and the National Treasury Attorney General s Office. Tax debts refer to those federal taxes (PIS and COFINS) whose constitutionality was questioned in courts, namely the broadening of their tax bases and their levy on revenues earned from the sale of real estate, prior to the enactment of Law No. 9,718/98, for which escrow deposits were made. On the date the Company and its investee joined the tax installment plans, the adjusted amount of the debt was R$25,554, of which R$18,026 referred to principal and R$7,528 fines and interest thereon.

29 29 On September 30, 2011, the Company filed an application with the Federal Revenue Service and the National Treasury Attorney General s Office for the consolidation of said debts. By the date of this interim financial information, these agencies had not replied to the application made. Summary of recognized provisions, tax installments (REFIS) and escrow deposits: 09/30/ /31/2016 Parent Escrow deposits Provisions Escrow deposits Provisions Civil 9,081 18, ,500 Labor 22,624 7,505 17,657 4,180 Tax ,705 26,125 17,861 15,680 REFIS IV (reported in line item "Taxes and contributions payable - noncurrent ) 43,043 21,356 42,086 21,356 74,748 47,481 59,947 37,036 09/30/ /31/2016 Consolidated Escrow deposits Provisions Escrow deposits Provisions Civil 15,667 59,152 3,556 54,038 Labor 30,780 30,699 22,824 32,817 Tax ,971 89,851 26,905 86,855 REFIS IV (reported in line item "Taxes and contributions payable - noncurrent ) 56,280 25,554 55,002 25,554 PPI-2017 (reported in line item "Taxes and contributions payable - noncurrent - see 16E) - 5, ,280 31,061 55,002 25, , ,912 81, ,409 Changes in escrow deposits and provisions are summarized as follows: Escrow deposits Parent Consolidated Balance at December 31, ,671 66,261 Deposits made 31,299 37,711 Deposits written off (12,797) (16,029) Balance at September 30, ,173 87,943 Escrow deposits Parent Consolidated Balance at December 31, ,947 81,907 Deposits made 26,901 35,475 Deposits written off (12,100) (14,131) Balance at September 30, , ,251 Provisions Parent Consolidated Balance at December 31, , ,328 Provision for civil and labor risks 16,648 56,882 Write-offs (10,771) (35,679) Balance at September 30, , ,531 Provisions Parent Consolidated Balance at December 31, , ,409 Provisions for civil, labor and tax contingencies 14,012 8,463 Enrollment with tax installment plan - PPI ,507 Write-offs (3,67) (5,467) Balance at September 30, , ,912

30 30 d) Federal tax debts Tax debt settlement programs (PRT/PERT) In 2017, the Company joined the PRT and PERT programs launched, respectively, by Provisional Acts No. 766/2017 and 783/2017 (converted into Law No. 13,496, dated October 24, 2017) to settle debts amounting to R$1,769. By joining PRT and PERT, the Company qualified to use the benefits under these programs to settle corporate federal tax debts, resulting in the realization of R$24,376 (including fine and interest). PRT included tax and nontax debts with the Brazilian Federal Revenue Service (RFB) and the National Treasury Attorney General s Office (PGFN) past due through November 30, 2016, and allowed the Company to use credits from tax loss carryforwards to settle the adjusted amount of the debts. PERT included tax and nontax debts with the Brazilian Federal Revenue Service (RFB) and the National Treasury Attorney General s Office (PGFN) past due through April 30, 2017, accrued or not, under discussion at the judicial or administrative levels, including migration of debts from installment payments made under the PRT program. The program allowed to refinance tax debts with reduction of interest and fine and/or use of tax credits and tax losses owned by the Company or by companies in the same Group. As at September 30, 2017, the Company s obligations under the scope of such programs are shown in the table below, including the fine and interest reduction benefits: Adhesion and benefits used Total payable Description Adjusted debts included in PRT/PERT Tax loss carryforwa rds Reduction of fine and interest as of the adhesion date (08/31/2017) (5 installments) Tax on revenue 11,292 (9,232) (1,624) 436 (COFINS) Corporate income 5,839 (4,260) (840) 739 tax (IRPJ) Social contribution 3,565 (2,601) (513) 451 (CSLL) Tax on revenue 2,496 (2,041) (359) 96 (PIS) Other debts 1,184 (967) (171) 46 Total 24,376 (19,101) (3,507) 1,768 (-) Payments made through September 30, 2017 (650) Total payable reported in taxes and contributions payable - current 1,118 The effects of the benefits from joining PRT and PERT on the Company s profit (loss) as at September 30, 2017 are as follows: 09/30/2017 Positive effect on profit (loss) for the period, including benefits from using tax loss carryforwards in joining PERT/PRT 100% Consolidated (IFRS) Deductions from operating revenue (gross operating margin) 10,152 7,219 Income tax and social contribution expenses 6,860 4,638 Finance costs and other operating expenses, net 2,089 1,586 Total 19,101 13,443

31 31 e) Municipal tax debts (SP) PPI (Tax Debt Refinancing Program) In September 2017, the Company joined a debt refinancing program launched by the municipal government of São Paulo ( PPI-2017 ) under law No. 16,680/17, for two SPEs controlled by Rossi Residencial that had outstanding IPTU (property tax) municipal debts. PPI-2017 is a debt refinancing program designed for taxpayers interested in settling their tax and nontax debts, accrued or not, including those in the Debts to the Municipal Government Register, under discussion at the judicial or administrative levels or not, covering taxable events occurred through December 31, 2016, benefiting from a reduction of 50% in fine and 60% in late payment interest. The total debts refinanced under the program, after deducting benefits, amount to R$6,144, payable in 20 monthly consecutive installments adjusted by Selic (the Central Bank s interest rate). The table below shows the debts included in the installment payment plan: 09/30/2017 Special Purpose Entity (SPE) Subsidiaries Adjusted debt Benefits granted by PPI Balance payable (120 parcelas) Sandalo Desenvolvimento Imobiliário Ltda. 7,269 (1,554) 5,715 Linum Empreendimentos Imobiliários Ltda. 516 (87) 429 Total 7,785 (1,641) 6,144 Current - reported in taxes and contributions payable - current 637 Noncurrent - reported in taxes and contributions payable - noncurrent 5, Deferred taxes a) The balances in balance sheet accounts are as follows: Parent Liabilities 09/30/ /31/2016 Deferred taxes on the difference of real estate profit recognition COFINS and PIS (taxes on revenue) 1,828 1,352 1,828 1,352 Current 1,536 1,081 Noncurrent Consolidated Liabilities 09/30/ /31/2016 Deferred taxes on the difference of real estate profit recognition: Companies taxed based on taxable income: Income tax and social contribution 27,424 33,625 COFINS and PIS (taxes on revenue) 15,687 17,948 Companies under the taxable income and segregated assets: Income tax and social contribution 1,006 2,705 COFINS and PIS (taxes on revenue) 281 1,039 Companies taxed under deemed income regime: Income tax and social contribution 5,500 7,146 COFINS and PIS (taxes on revenue) 6,517 8,468 Companies under the taxable income and segregated assets: Income tax and social contribution 4,807 4,552 COFINS and PIS (taxes on revenue) 5,207 4,933 66,429 80,416 Current 34,714 41,297 Noncurrent 31,715 39,119

32 32 The tax base of deferred taxes is represented by the difference between recognition of income from real estate activity for tax purposes (cash basis) and for accounting purposes (accrual basis), and the deduction of provisions. b) The breakdown of temporary differences of taxes on income (taxable income) is as follows: 09/30/ /31/2016 Temporary differences - Parent Real estate allocation 19,758 14,618 Tax loss carryforwards (19,758) (14,618) Temporary differences - subsidiaries Real estate allocation 115, ,690 Tax loss carryforwards (34,568) (41,792) Tax base 80,657 98,898 Statutory rate 34% 34% Deferred liabilities 27,423 33,625 c) The balances of tax loss carryforwards for which there is no statute of limitations are as follows: Balances controlled in subsidiary ledgers and not recorded on tax books 09/30/ /31/2016 Parent 2,368,058 2,186,734 Offset temporary differences (19,758) (14,618) 2,348,300 2,172,116 Subsidiaries 2,044,113 1,903,478 Offset temporary differences (34,568) (41,792) 2,009,545 1,861,686 4,357,845 4,033,802 d) Income tax and social contribution expenses (income) in the statement of profit and loss are as follows: Consolidated 09/30/ /30/2016 Current taxes on: Companies under the taxable income regime (523) (2,234) Companies under the taxable income regime and segregated assets (186) (519) Companies under the deemed income regime (1,429) (7,314) Companies under the deemed income regime and segregated assets (1,337) (548) Total current taxes (3,475) (10,615) Real estate profit allocation difference / adhesion to PERT/PRT: Companies under the taxable income regime 6,250 5,780 Companies under the taxable income regime and segregated assets 1,699 (1,361) Companies under the deemed income regime 1,649 4,077 Companies under the deemed income regime and segregated assets (254) (1,022) Total deferred tax assets 9,344 7,474

33 33 e) The reconciliation of (current and deferred) income tax and social contribution amounts of taxes on income (taxable income) reported in profit (loss) for the periods ended September 30, 2017 and 2016, at the statutory rate, is as follows: Parent 09/30/ /30/2016 Loss before income tax and social contribution (480,654) (427,447) Statutory rate 34% 34% Expected income tax and social contribution income (expenses) 163, ,332 Share of profit (loss) of investees (74,474) (69,321) Other additions and deductions (727) - Unrecognized tax credits (88,221) (76,011) (-) Income tax and social contribution expenses or income - - Consolidated 09/30/ /30/2016 Loss for the period (493,245) (436,068) (-) Profit companies under deemed income and special tax regime (RET) (25,725) 35,766 Loss for the period taxable income (467,520) (471,834) (-) Income tax and social contribution expenses or income 5,727 3,546 Loss before income tax and social contribution (473,247) (475,380) Statutory rate 34% 34% Expected income tax and social contribution income (expenses) 160, ,629 Share of profit (loss) of investees (17,980) (8,695) Other additions and deductions (912) - Tax loss carryforwards Unrecognized tax credits (136,530) (150,268) (=) Income tax and social contribution expenses or income 5,727 3,546 Recomputation of current and deferred taxes Income tax - deferred (income) 9,407 20,857 Income tax - deferred (expense) (3,157) (15,077) (=) Income tax deferred (1) 6,250 5,780 (+) Income tax current (expense) (2) (523) (2,234) (=) Income tax (current) (-) (deferred) (1-2) 5,727 3,546 f) Segregated assets: The equity segregation structures in the Company refer to the Special Tax Regime (RET - segregated assets). The table below shows the real estate projects that are under the Special Tax Regime: Project description Proportion to consolidated Total consolidated % of assets R$ (thousand) 2017 Rossi Mais 101,388 4,198, % Rossi Mais Jardins De Paulinia 28,770 4,198, % Rossi Mais Parque Da Lagoa 189,668 4,198, % Rossi Mais Horizontes 48, , % Rossi Atual Alto Da Lapa 21,191 4,198, % Espaço Vip Residencial (Retiro Dos Artistas) 64,631 4,198, % Alta Vista Piedade 33,235 4,198, % Rossi Litorâneo 64,304 4,198, % Palacio Imperial 34,070 4,198, % Rossi Mais Parque Iguaçu 54,598 4,198, % Arte Studios Residencial 24,188 4,198, % Rossi Praças Ipê Roxo 20,033 4,198, % Pontal Das Américas 65,089 4,198, % Total Assets 750,139 4,198, %

34 Related-party disclosures a) Current accounts of real estate projects The Company develops projects through Special Purpose Entities (SPEs) and participates in real estate development projects along with other partners, either directly by forming joint ventures or through related parties, by holding equity interests, or through consortia. The management structure of these projects and the cash management are centralized at Rossi Residencial, which oversees the progress of the construction works and budgets. This way, Rossi Residencial ensures that the necessary funds are invested and allocated as planned. The sources and uses of the project s funds are reflected in these balances, proportionately to the equity interest held therein, which are not subject to inflation adjustments or finance charges and do not have a determinate maturity date. The average term for the development and completion of the projects in which the funds have been invested is three years, always based on the plans and time budgets of each work. Related-party transactions were conducted under conditions agreed upon between the related parties. Parent Consolidated 09/30/ /31/ /30/ /31/2016 Assets with related parties Wholly-owned subsidiaries 1,727,277 1,785, Subsidiaries due to management of core activities 4,212 1, Non-controlled entities 242, , , ,080 1,973,989 2,044, , ,080 Liabilities with related parties Wholly-owned subsidiaries 1,506,615 1,560, Subsidiaries due to management of core activities 10,105 10, Non-controlled entities 929, , , ,297 2,445,885 2,482, , ,297 The balances of assets and liabilities between related parties as at September 30, 2017 and December 31, 2016 are detailed in Exhibit II thereto. Changes in cash flows from related parties: Impacts on cash flow Parent Consolidated Balance at December 31, 2016 (437,578) (675,217) Return of financial contributions Increase 269, ,254 New financial contributions Reduction (303,899) (141,168) Balance at September 30, 2017 (471,896) (660,131)

35 35 b) Management compensation (Parent and consolidated) The annual overall fixed and variable compensation authorized by the Annual Shareholders Meeting for 2017 was set at R$6,052 (R$5.935 for 2016) for the members of the Board of Directors, Supervisory Board and Executive Board. The members of the Board of Directors and Executive Board hold, collectively, 4,062,246 shares (after reverse split) in the Company as at September 30, 2017 (4,578,871 at December 31, 2016). The amount of accumulated compensation recognized was distributed as follows: Parent and Consolidated 09/30/ /30/2016 Fixed Variable Total Fixed Variable Total Compensation: Directors Officers 2,967-2,967 2,298-2,298 3,580-3,580 2,867-2,867 The abovementioned Directors refer to members of the Supervisory Board and the Board of Directors, composed of three and five members, respectively, for the periods ended September 30, 2017 and Some employees have stock options, as described in note 23.c. 19. Net revenue Breakdown of net operating revenue: Parent 07/01/2017 to 01/01/2017 to 01/07/2016 to 01/01/2016 to 09/30/ /30/ /30/ /30/2016 Properties sold and services provided 2,427 9,929 6,232 25,634 Taxes on services and sales 98 (555) (295) (2,173) 2,525 9,374 5,937 23,461 Consolidated 01/07/2017 to 01/01/2017 to 01/07/2016 to 01/07/2016 to 09/30/ /30/ /30/ /30/2016 Properties sold and services provided 35, , , ,832 Taxes on services and sales 7, (8,581) (19,445) 42, , , , Cost of properties sold and services provided Cost of properties sold and services provided classified by nature: Parent 07/01/2017 to 01/01/2017 to 01/07/2016 to 01/01/2016 to 09/30/ /30/ /30/ /30/2016 Construction and development costs 108 (12,399) (463) (2,259) 108 (12,399) (463) (2,259)

36 36 Consolidated 07/01/2017 to 01/01/2017 to 01/07/2016 to 01/01/2016 to 09/30/ /30/ /30/ /30/2016 Construction and development costs (62,341) (220,417) (90,940) (246,756) Land (7,587) (40,603) (26,751) (40,488) Goodwill realization (land) (2,814) (8,106) (347) (566) Provision for construction warranty (1,181) (1,342) (308) (2,935) Finance charges allocated to cost (18,008) (49,613) (21,081) (74,281) (91,931) (320,081) (139,427) (365,026) 21. Income (Expenses) a) Administrative expenses Parent 07/01/ /01/2017 to 07/01/ /01/2016 to to to 09/30/ /30/ /30/ /30/2016 Salaries and employee benefits (3,890) (12,481) (2,682) (14,884) Share-based payment (203) (708) (643) (2,809) Outside services (3,593) (12,806) (5,828) (15,992) Rentals (769) (2,461) (1,311) (3,886) Electric power, water and communication (349) (1,340) (464) (1,424) Other (2,252) (4,545) (933) (4,125) (11,056) (34,341) (11,861) (43,120) Consolidated 07/01/ /01/2017 to 07/01/ /01/2016 to to to 09/30/ /30/ /30/ /30/2016 Salaries and employee benefits (4,851) (14,924) (4,232) (23,776) Share-based payment (203) (708) (642) (2,809) Outside services (5,925) (18,789) (8,457) (20,929) Rentals (868) (2,826) (1,435) (4,348) Electric power, water and communication (394) (1,590) (586) (1,811) Other (2,654) (5,996) (1,878) (6,391) (14,895) (44,833) (17,230) (60,064) b) Selling income (expenses) Parent 07/01/2017 to 01/01/2017 to 07/01/2016 to 01/01/2016 to 09/30/ /30/ /30/ /30/2016 Marketing and advertising (761) (3,476) (3,775) (7,604) Other selling income (expenses), net 2,501 1, (2,862) 1,740 (1,612) (3,751) (10,466) Consolidated 07/01/ /01/2017 to 07/01/ /01/2016 to to to 09/30/ /30/ /30/ /30/2016 Marketing and advertising (9,513) (30,605) (18,046) (49,672) Sales stands (76) (76) (279) (1,031) Other selling income (expenses), net 2,859 1,258 (1,026) (6,395) (6,730) (29,423) (19,351) (57,098) c) Other income (expenses), net Parent 07/01/2017 to 01/01/ /01/2016 to 01/01/2016 to to 09/30/ /30/ /30/ /30/2016 Gain (loss) on sale of investments 291 2,376 (533) (892) Goodwill realization (4,606) (12,135) (1,232) (5,282) Other income (expenses), net (i) (12,375) (48,528) (7,218) (31,291) (16,690) (57,977) (8,983) (37,465)

37 37 Consolidated 07/01/2017 to 01/01/2017 to 07/01/ /01/2016 to to 09/30/ /30/ /30/ /30/2016 Gain (loss) on sale of investments (632) (1,903) Goodwill realization (1,792) (4,030) (884) (4,716) Other income (expenses), net (i) (25,759) (101,058) (30,836) (111,610) (27,327) (102,511) (32,352) (118,229) (i) In September 2017 and 2016, the balance is primarily comprised of expenses/provisions for risks (lawsuits) and expenses on warranty of completed works. 22. Finance income (costs) Parent 07/01/2017 to 01/01/2017 to 07/01/2016 to 01/01/2016 to 09/30/ /30/ /30/ /30/2016 Finance income: Income from short-term investments 290 1, Interest receivable on intragroup loans and trade receivables Other 1,090 4,210 1,474 6,746 1,438 5,991 1,601 7,637 Finance costs: Banking fees (599) (1,221) (275) (382) Tax on Financial Transactions (IOF) (45) (3,244) (410) (1,559) Charges on borrowings and financing (41,071) (144,312) (50,058) (141,658) Discounts granted 245 (559) (338) (993) Other (2,381) (5,185) (31) (777) (43,851) (154,521) (51,112) (145,369) (42,413) (148,530) (49,511) (137,732) Consolidated 01/07/2017 to 01/01/2017 to 07/01/2016 to 01/01/2016 to 30/09/ /09/ /09/ /09/2016 Finance income: Income from short-term investments 1,403 4,077 2,519 9,083 Interest receivable on intragroup loans and trade receivables 1,013 2,323 Other 2,221 11,343 4,256 18,803 3,949 16,433 7,207 30,209 Finance costs: Banking fees (1,374) (3,177) (1,782) (4,978) Tax on Financial Transactions (IOF) (1,470) (5,137) (1,251) (3,360) Charges on borrowings and financing (42,911) (167,806) (60,623) (154,325) Discounts granted (1,676) (4,495) (3,377) (11,564) Other (4,398) (18,100) (2,517) (12,285) (51,829) (198,715) (69,550) (186,512) (47,880) (182,282) (62,343) (156,303) 23. Employee benefit expenses a) Profit sharing program Employee and management profit sharing will be decided by the Board of Directors as provided for by Article 21, XVI, of the Company s bylaws.

38 38 b) Pension plan Rossi Prev Under the regulations of the benefit plan (defined contribution), the contributions of participating employees may vary from 1% to 8% of their nominal salaries and the Company s contribution will correspond to 50% to 100% of a participant s contribution, depending on his or her length of service at the Company, and the costs will be allocated over the participant s active career. If an employee or officer is terminated, the participant s contributions will be fully reimbursed, and the Company s contributions will be reimbursed based on participant s length of service at the Company. The contributions made by the Company and the participants for the periods ended September 30, 2017 and 2016 are as follows: Parent Consolidated 09/30/ /30/ /30/ /30/2016 Company Participants ,449 c) Stock option plan c.1) Stock Option Plans ( Programs ) 2008 Program On May 26, 2009, the Company s Board of Directors approved the 2008 stock option plan ( 2010 Program ), which granted a total 544,012 shares. Under the Plan s terms, as a condition precedent, the beneficiaries invested 10% or 20% of their annual variable compensation in Company shares ( Invested shares ) and authorized blocking such shares for trading. The multiple of stock options to be granted to each participant according to the number of Invested shares was set at four (4), with first exercise period beginning on May 26, 2011 and ending May The strike price was set at R$4.22, with no inflation adjustment Program On April 23, 2009, the Company s Board of Directors approved the 2009 stock option plan ( 2009 Program ), which granted a total 456,520 shares. The multiple of stock options to be granted to each participant according to the number of invested shares was set at four (4). The strike price of each 2009 Program stock option was set at R$12.56, with no inflation adjustment. The 2009 Program is effective for the period from September 1, 2010 to May 2015, and its settlement is subject to the same terms as those of the 2008 Program.

39 Program On May 16, 2011, the Company s Board of Directors approved the 2010 stock option plan ( 2010 Program ), which granted a total 618,150 shares. The multiple of stock options to be granted to each participant according to the number of invested shares was set at four (4). The strike price of each stock option under the 2010 Program was set at R$1.00 and R$12.05, with no inflation adjustment. The settlement of 2010 Program will be made under the same terms as those of the 2008 Program Program On April 24, 2012, the Company s Board of Directors approved the 2009 stock option plan ( 2009 Program ), which granted a total 859,904 shares. The multiple of stock options to be granted to each participant according to the number of invested shares was set at four (4). The strike price of each stock option under the 2011 Program was set at R$1.00 and R$9,17, with no inflation adjustment. The settlement of 2011 Program will be made under the same terms as those of the 2008 Program. As at September 30, 2017, R$17 in expenses on these programs were allocated to profit or loss (R$14 at September 30, 2016). Changes in the balances are as follows: Total Program Program Program Program Options not exercised at December 1,047 1,544 2,469 6,887 11,947 31, 2016 Options exercised - - (676) (2,168) (2,844) Forfeiture (1,047) (1,083) (647) (1,401) (4,178) Balance of options not exercised at September 30, ,146 3,318 4,925 c.2) Restricted stock option plan ( Restricted stock ) The right to sell shares resulting for the exercise of stock options is subject to a vesting period and will occur in four annual, equal and consecutive installments of 25%, the first as from the second anniversary of the stock options and the other installments on the subsequent anniversaries. While remaining as an executive officer of the Company, each participant must hold a minimum investment in shares arising from the exercise of stock options ( guideline ), according to their position and level of retention, to be set by the Board of Directors. If this during employment period is not fulfilled, whether due to dismissal or death, or the guideline is not complied with, the Company is entitled to exercise a call option of these shares, provided that they are not vested, at the strike price of R$1.00 per share, without inflation adjustment.

40 restricted stock The Board of Directors approved the Plan at the Extraordinary Shareholders Meeting on December 21, 2009, and granted 1,820,000 restricted stock options included in treasury shares (note 25.b) to the Company s officers and key executives. The Plan has a stock options ceiling that results in a maximum dilution of 6% of the Company s capital restricted stock On March 28, 2011, the Board of Directors approved and granted 1,600,000 restricted stock options and authorized the issuance of 1,600,000 registered, book-entry common shares, within the authorized capital limits, waiving the preemptive rights of the current Company shareholders restricted stock On September 4, 2012, the Board of Directors approved and granted 8,148,000 restricted stock options and authorized the issuance of 8,148,000 registered, bookentry common shares, within the authorized capital limits, waiving the preemptive rights of the current Company shareholders restricted stock On April 22, 2013, the Board of Directors approved and granted 1,716,956 restricted stock options and authorized the issuance of 1,716,956 registered, book-entry common shares, within the authorized capital limits, waiving the preemptive rights of the current Company shareholders. As at September 30, 2017, the Company incurred R$691 in expenses on the restricted stock option plans (R$2,824 at September 30, 2016). Changes in the balances are as follows: 2009 restricted stock 2011 restricted stock 2012 restricted stock 2013 restricted stock Options not exercised at December 9,800 12,100 86,000 22, ,206 31, 2016 Options exercised (4,400) (6,200) (41,634) (3,852) (56,086) Forfeiture - - (2,921) - (2,921) Balance of options not exercised at September 30, ,400 5,900 41,445 18,454 71,199 Total 24. Equity a) Capital As at September 30, 2017 and December 31, 2016, subscribed and paid-in capital is R$2,635,280, represented by 17,153,337 registered common shares (after reverse split). Authorized capital is 20,000,000 common shares.

41 41 As at September 30, 2017 and December 31, 2016, capital is as follows: Subscribed capital 2,635,280 Share issuance costs (23,890) Capital 2,611,390 On January 18, 2016, the Board of Directors accepted the proposal of making a reverse split of all the Company s shares, in five (5) book-entry registered common shares, without par value, in the proportion of five (5) shares to one (1), with no changes in capital, in compliance with Article 12 of the Corporate Law. b) Treasury shares Through September 30, 2017, 415,509 groups of common shares had been bought and held in treasury, in the amount of R$83,313 (415,509 groups of common shares, in the amount of R$83,313, as at December 31, 2016). The minimum costs, weighted average and maximum costs per share are R$1.00, R$9.35 and R$25.32 (R$25.00, R$ and R$633, after reverse split of shares), and the market value of these shares at September 30, 2017 was R$7.35 per group of registered shares (R$2.70 as at December 31, 2016). Acquisitions are limited to the amounts of reserves and they may be allocated either for disposal or cancellation. c) Capital reserves Include the amounts referring to the recognition of stock option grants. d) Earnings (loss) per share: The calculation of the earnings (loss) per share and diluted earnings (loss) per share on an individual and consolidated basis, are as follows: Basic/Diluted (i) 07/01/2017 to 09/30/ /01/2017 to 09/30/ /01/2016 to 09/30/ /01/2016 to 09/30/2016 Loss for the year (155,995) (480,654) (160,324) (427,447) Weighted average number of 17,153 17,153 17,153 17,153 outstanding / groups of shares Earnings (loss) per share/groups of shares - basic/diluted (expressed in R$) (9,094) (28,021) (9,347) (24,920) (i) As provided for by CPC 41, the calculation of diluted earnings per share does not entail the conversion, the exercise, or any other issuance of potential common shares that would have an antidilutive impact on earnings per share; therefore, as at September 30, 2017 and 2016 there is no difference between basic and diluted loss per share.

42 42 e) Allocation of profit for the years Profit for the year, after the statutory offsets and deductions and pursuant to the relevant law and the Company s bylaws, where applicable, is allocated as follows: 5% to the legal reserve, up to the limit of 20% of the paid-in capital or 30% of total reserves; 25% of the balance, after allocation to legal reserve, will be allocated to the payments of minimum mandatory dividends to all shareholders. Unreceived or unclaimed dividends will expire in three years after the date when they were made available to shareholders and will be transferred back to the Company. 25. Construction in progress The Company and its subsidiaries have adopted the procedures set out in CVM Resolution 624/10 (OCPC 01 (R1) - Real Estate Entities) for accounting recognition of profit or loss on real estate activities. Consequently, the balances of budgeted costs to be incurred on units sold and receivables from properties sold to be recognized, in addition to the full balance of receivables from real estate development, are not reflected in the interim financial information. The unrecognized revenue from sales of properties does not consider: financial costs, taxes, warranty provision and discounts granted. However, they are reflected in the interim financial information. a) Unrecognized revenue from sales of properties (consolidated) Consolidated 09/30/ /31/2016 Sales agreements, net of contractual terminations 785,083 2,308,929 Gross revenue recognized (723,313) (2,155,753) Revenues from sale of properties to be recognized 61, ,176 Estimated costs of properties sold 1,035,663 2,821,591 Costs incurred recognized (990,561) (2,711,309) Unincurred estimated costs 45, ,282 Receivables from properties sold to be recognized 16,668 42,894 The percentage of completion (POC) method was adopted, based on the cost incurred/budgeted cost for measurement of receivables of units under construction, which are stated net of receipts. b) Commitments to budgeted costs on units sold (consolidated) Consolidated 09/30/ /31/2016 Up to 12 months 45,102 97,644 After 12 months - 12,638 45, ,282

43 Non-cash transactions The Company and its subsidiaries conducted the following investing and financing activities not affecting cash and cash equivalents, and these activities were not included in the statements of cash flows: Parent 09/30/ /30/2016 Assets Liabilities Assets Liabilities Transfer of equity deficiency - Note 9 / Note , , , ,963 Dividends declared - Note 9 / Note 18 (25,848) - (17,654) - Dividends receivable - Note 9 / Note 18 25,848-17,654 - Capitalized interest Note 6/ Note 12 6,069 6, , , , ,032 Consolidated 09/ 09/30/ /30/2016 Assets Liabiliti es Assets Liabilitie s Purchases of land (advance from customers - barter) ,287 13,287 Note 6 / Note 13a Transfer of equity deficiency - Note 9 / Note 14 12,803 12,803 11,359 11,359 Warranty provision Note 6 / Provision for Construction Warranty Payment of taxes - offsett - - (1,034) (1,034) Capitalized interest Note 6 / Note ,098 12,098 13,528 13,528 35,798 35, Insurance The Company has the policy of insuring risk-exposed assets to cover probable losses, in light of the nature of its business. The policies are in effect and insurance premiums have been duly paid. The risk assumptions, given their nature, are not part of the audit scope and, consequently, were not examined by the Company s auditors. The insurance coverage is as follows: Insurance line (in R$) 09/30/ /31/2016 Engineering risks (a) 534, ,018 Fire (b) 1,362, ,914 Construction completion (c) 4,746 4,746 D&O (d) 100, ,000 2,001,067 1,768,678 (a) Engineering risks: (i) Civil liability - coverage for property damage and bodily injury caused involuntarily to third parties, arising from the execution of the construction, installation and assembly work at the insured location. (ii) Property damage (financed construction) - coverage for damage and losses arising from sudden and unforeseeable accidents occurred at the real estate. (b) Fire - lightning and explosion at head office and regional offices; (c) Construction completion insurance - guarantees the delivery of units to the committed buyers; (d) D&O liability - coverage of defense costs in possible lawsuits or arbitration proceedings.

44 Financial Instruments a) Analysis of financial instruments The Company and its subsidiaries conduct transactions involving financial instruments, all recorded in balance sheet accounts, to finance their activities or invest their financial resources available. These risks are managed based on conservative strategies aimed at liquidity, profitability and security. The control policy consists of permanently monitoring contracted rates compared to market rates. The Company does not conduct financial instrument transactions for speculative purposes. Financial instruments are recognized only as from the date in which the Company becomes a party to the contract provisions. They are initially recognized at fair value, plus the transaction costs directly attributed to their acquisition or issuance (where applicable). They are then measured at the end of each reporting period, in accordance with the rules established for each type of classification of financial assets and liabilities. The Company restricts its exposure to credit risks related to banks and cash and cash equivalents by making its investments in prime financial institutions. The credit risks on trade receivables are managed through specific credit analysis rules and individual exposure limits by customer. Financial instruments are recorded in balance sheet accounts and are represented by shortterm investments, borrowings and financing, and debentures, the estimated fair values of which are substantially similar to their carrying amounts. Additionally, trade receivables, when referring to completed projects and construction in progress, may be traded in securitization and/or assignment transactions. There are no derivative transactions as at September 30, 2017 and December 31, b) Categories of financial instruments Parent Consolidated Category 09/30/ /31/ /30/ /31/2016 Financial assets Cash and cash equivalents Loans and receivables 4,277 3,439 33,125 45,883 Securities 3,222 8,829 23,711 16,585 Investment funds, repurchase agreements, CDBs and other Loans and receivables 3,222 8,829 23,711 16,585 Trade receivavbles Loans and receivables 164, , ,015 1,074,904 Related parties Loans and receivables 1,973,989 2,044, , ,080 Escrow deposits Loans and receivables 74,748 59, ,251 81,907 Advances to business partners Loans and receivables 506, , , ,710 Financial liabilities Borrowings and financing Other financial liabilities 1,394,182 1,277,135 2,066,512 2,042,381 Trade payables Other financial liabilities 21,802 10,335 54,166 47,249 Advances from customers Other financial liabilities , ,552 Payables for purchases of land Other financial liabilities , ,480 Related parties Other financial liabilities 2,445,885 2,482, , ,297 Other payables (business partners and other) Other financial liabilities 169, , , ,881

45 45 The financial assets and financial liabilities mentioned above, which are measured at amortized cost, except for assets held for trading that are measured at fair value, are adjusted for inflation (except for related parties) based on indices and interest rates contracted through the reporting date of the financial statements and do not present significant differences in relation to the market value. Other payables include financial liabilities for which there are no risk of financial variation. c) Risk factors that may affect the Company s and its subsidiaries businesses Capital risk management The purpose of capital management is to establish methods and procedures used to mitigate the Company s capital risk, since such management consists of an ongoing monitoring and control over capital level compatible with the institution s strategic goals. In this capital management analysis, the Company assesses the operating flow required to maintain the sustainable level of funds available to settle liabilities, invest and maintain reserves for future contingencies. To calculate net debt, the Company uses its debt capital (liabilities with controlling and non-controlling shareholders) plus third-party capital debts (borrowings and financing, receivables assignment, debentures) less cash and cash equivalents and securities. Parent Consolidated 09/30/ /31/ /30/ /31/2016 Equity capital Equity 234, , , ,575 Debt capital Borrowings and financing 1,384,797 1,265,146 2,055,867 2,028,790 Assignment of receivables 9,384 11,989 10,645 13,591 Total equity and debt capital 1,628,869 1,991,770 2,306,929 2,775,956 Cash and cash equivalents and securities 7,499 12,268 56,836 62,468 Net debt 1,621,370 1,979,502 2,250,093 2,713,488 Liquidity risk Controls over the Company s and its subsidiaries liquidity and cash flows are monitored on an ongoing basis to ensure that the generation of operating cash and early fundraising, if necessary, are sufficient to pay their commitments on time. The Company s debt has been monitored by Management together with the financial institutions, when necessary, according to the Company s current profile and its cash inflows. Credit risk For risks related to the collection of trade receivables, the Company and its subsidiaries take into consideration the collateral transfers made, since their portfolio is collateralized by the sold properties; however, the amount of the effective risk of probable losses is reported in losses on receivables (note 5).

46 46 Market risk (i) Interest rate and inflation rate risk - the interest rate risk arises from the debt portion pegged to the TR, a managed prime rate, the interbank deposit rate (CDI) and the National Construction Cost Index (INCC), short-term investments pegged to the CDI and other payables indexed to the INCC and the General Market Price Index (IGP- M), which may adversely affect finance income or costs if there are unfavorable changes in the interest and inflation rates. (ii) Currency risk - the Company does not conduct foreign currency-denominated transactions. (iii) Derivative transactions - the Company does not conduct derivative and similar risk transactions. d) Sensitivity analysis for financial assets and financial liabilities The Company defined three scenarios (probable, possible and remote) for simulation. Management has set in the probable scenario the rates disclosed to the market (including B3, formerly BM&BOVESPA ), and the possible and remote scenarios showed a depreciation of 25% and 50%, respectively, of the variables. The basis used is the amount in the notes corresponding to cash and cash equivalents, securities, trade receivables, borrowings and financing, debentures, trade payables and payable for the acquisition of land, business partners and other payables. Parent Position at Risk Scenario I Scenario II Scenario III Item 09/30/2017 Factor Probable Possible Remote Cash and cash equivalents Savings account 157 TR % % % Securities Investment funds - DI Bank Certificates of Deposit - CDBs 403 2,819 CDI CDI % % % % % % Trade receivables Units under construction Completed units Business partners 4, , ,095 INCC IGP-M CDI 4.02% 3.02% 2.01% % % % % % % 7,068 44,131 8,834 33,099 10,601 22, % % % Escrow deposits 74,748 TR Construction financing - mortgage loan Working capital loan Assignment of receivables 982, ,503 9,384 TR CDI INCC % % % % % % % % % 5,894 35, ,367 43, ,841 52, % % % Advances from customers 141 INCC Other payables (other) Other payables (business partners) Other payables (leases and sales cancellations) 7, ,446 55,254 INCC CDI IGPM % % % % % % % % % 297 9,195 2, ,494 1, ,792 1,227

47 47 Consolidated Position at Risk Scenario I Scenario II Scenario III Operation 09/30/2017 Factor Probable Possible Remote Cash and cash equivalents Savings account 613 TR % % % Securities Investment funds - DI Repurchase agreements - DI Bank Certificates of Deposit 7, ,419 CDI CDI CDI % % % % % % % % % 686 1, , Trade receivables Units under construction Completed units Business partners 152, , ,187 INCC IGP-M CDI % % % % % % % % % 6,138 33,152 41,262 4,603 41,440 30,946 3,069 49,728 20, % % % Escrow deposits 103,251 TR Construction financing - mortgage loan 1,649,364 TR % % % 9,896 12,370 14,844 Working capital loan 406,503 CDI % % % 35,447 44,309 53,171 Assignment of receivables Payables for purchases of land 10, ,287 INCC INCC % % % % % % 428 5, , , % % % Advances from customers 192,877 INCC 7,754 9,692 11,630 Other payables (other) Other payables (business partners) Other payables (leases and sales cancellations) 14, , ,490 INCC CDI IGP-M % % % % % % % % % 589 9,195 7, ,494 5, ,792 3,985 Due to the nature, complexity and segregation of one single variable, estimates presented may not fairly represent the amount of loss. 29. Approval of interim financial information The Company s individual and consolidated interim financial information for the period ended September 30, 2017 were authorized for disclosure by the Board of Directors on August 09, 2017, in accordance with Article 25, item VI, of CVM Instruction No. 480/ Explanation added to the translation for the English version The accompanying interim financial information was translated into English from the original Portuguese version prepared for local purposes. Certain accounting practices applied by the Company that conform to those accounting practices adopted in Brazil may not conform to the generally accepted accounting principles in the countries where these financial statements may be used.

48 48 Exhibit I Summary of the main information on investments as at September 30, 2017: Subsidiaries Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Abadir Empreendimentos Imobiliários Ltda 91, ,174 (38,493) (16,436) 99.90% (16,420) (38,454) - 38,454 - Abeguar Empreendimentos Imobiliários Ltda 75,648 69,992 5,656 (938) % (938) 5, ,656 Abrotano Empreendimentos Imobiliários Ltda 1 15 (14) % - (14) Absirto Empreendimentos Imobiliários Ltda 7,005 3,157 3, % 69 3, ,844 Açafate Empreendimento S/A 3,982-3, % 2 3, ,982 Acalifa Empreendimentos S/A 8,387 10,453 (2,066) (334) % (334) (2,066) - 2,066 - Acauã Investimentos Imobiliários Ltda 16,292 5,874 10,418 (693) % (506) 10, ,418 Acer Participações S/A 20,319 26,124 (5,805) (46) 99.90% (46) (5,799) - 5,799 - Adiantum Empreendimentos Imobiliários Ltda % Afelandra Empreendimentos S/A 14,860 16,529 (1,668) (25) 75.00% (19) (1,251) - 1,251 - Agerato Empreendimentos S/A 1,234 2,913 (1,678) 3, % 3,459 (1,677) - 1,677 - Aglaonema Empreendimentos S/A 26,234 18,151 8, % 17 8, ,075 Agraecum Empreendimentos S/A % Aisne Empreendimentos Imobiliários Ltda 28,770 25,376 3,393 (1,646) % (1,646) 3, ,393 Alcea Empreendimentos Imobiliários Ltda 275,544 64, , % , ,542 Aldrovandi Empreendimentos Imobiliários Ltda 3,165 1,303 1, % 58 1, ,860 Alocasia Empreendimentos S/A 2,779 19,353 (16,573) % 280 (16,557) - 16,557 - Alpen Haus Desenvolvimento Imobiliário S/A 10,034 9, (8) 70.00% (5) Alpen Haus Negócios Imobiliários S/A 13,792 12,301 1, % 129 1, ,044 Alteia Empreendimentos Imobiliários Ltda 26,767 1,832 24,935 (399) % (399) 24, ,935 Alternantera Empreendimentos Imobiliários Ltda 105,206 61,695 43,511 (397) % (397) 43, ,511 América Piqueri Incorporadora S/A 5,900 5, (186) 20.00% (37) América Properties Ltda 46,583 44,330 2,253 (553) % (720) 2, ,254 América Urbanismo S/A 1,080 1,564 (483) % Amniso Empreendimentos Imobiliários Ltda 3, ,203 (30) 99.90% (30) 3, ,199 Anabi Empreendimentos Imobiliários Ltda 34,070 31,482 2,588 (2,825) 0.00% Anagalide Empreendimentos S/A 1,284 30,330 (29,046) % 184 (29,017) 7,210 21,807 - Anapo Empreendimentos Imobiliários Ltda 14,257 6,626 7,632 (226) 99.90% (226) 7, ,624 Aniene Empreendimentos Imobiliários Ltda 9,106 4,422 4,684 (225) 99.90% (225) 4, ,679 Anigro Empreendimentos Imobiliários Ltda 13,338 1,036 12,302 2, % 2,420 12, ,302 Anloga Empreendimentos Imobiliários Ltda 10,613 3,649 6,964 (23) 70.00% (16) 4, ,875 Anteros Empreendimentos Imobiliários Ltda 11,034 10, (478) 99.90% (478) Antocleista Empreendimentos S/A 3,356 2, % Apidano Empreendimentos Imobiliários Ltda 145, ,364 (19,915) (4,158) 99.90% (4,154) (19,895) - 19,895 - Apuléia Empreendimentos Imobiliários Ltda 155 (19) % Araucaia Empreendimentos Imobiliários Ltda 35,933 4,645 31,288 (31) % (30) 31, ,288 Araure Empreendimentos Imobiliários Ltda 64,631 74,478 (9,847) (5,243) 99.90% (5,238) (9,837) - 9,837 - Argentea Empreendimentos S/A 200, ,736 (31,147) % 927 (31,116) - 31,116 - Aristasia Empreendimentos Imobiliários Ltda % Artocarpus Empreendimentos Imobiliários Ltda 1, % Arundina Empreendimentos Imobiliários Ltda 1,393 1, (21) % (7) Asistásia Empreendimentos S/A 6,849 2,672 4, % - 4, ,177 Asmiscada Empreendimentos S/A 14,257 10,684 3, % 28 3, ,573 Asopo Empreendimentos Imobiliários Ltda 9,524 3,351 6, % 35 4, ,013 Assessoria Técnica, Imobiliária e Participações Ltda (1) 99.90% (1) Asterion Empreendimentos Imobiliários Ltda % Astir Assessoria Técnica Imobiliária e Participações Ltda 4,129 68,965 (64,836) (4,595) 99.90% (4,590) (64,772) - 64,772 - Atenor Empreendimentos Imobiliários Ltda 1,057 21,904 (20,847) (1,125) 99.90% (1,124) (20,826) - 20,826 - Atromeia Empreendimentos S/A 57,462 29,953 27, % , ,482 Auriculata Empreendimentos S/A 1,056 5,121 (4,065) % 206 (4,061) - 4,061 - Aven Empreendimentos Imobiliários Ltda 114, ,480 (18,197) (1,236) 99.90% (1,235) (18,179) - 18,179 - Bafira Empreendimentos Imobiliários Ltda 21,673 33,239 (11,567) (1,783) 65.00% (1,159) (7,518) - 7,518 - Barão de Café Empreendimentos Imob. S/A (37) 50.00% (18) Barão do Café Incorporadora S/A (1) 50.00% Barbarea Empreendimentos Imobiliários Ltda 6 15 (9) % - (9) Bazagueda Empreendimentos Imobiliários Ltda 23,847 23,878 (31) (1) 99.90% (1) (31) BCP Empreendimentos Imobiliários Ltda 11,490-11, % - 11, ,490 Beaumontia Empreendimentos S/A 10,951 14,466 (3,516) % 18 (3,516) - 3,516 - Belinda Empreendimentos Imobiliários Ltda 139, ,246 (17,764) (5,729) 99.90% (5,723) (17,746) - 17,746 - Belisário Empreendimentos Imobiliários Ltda 20,033 12,207 7,827 (1,578) 99.90% (1,576) 7, ,819 Bidasoa Empreendimentos Imobiliários Ltda 14,711 17,645 (2,934) (464) 99.90% (463) (2,931) - 2,931 - Bisira Empreendimentos Imobiliários Ltda 33,235 8,549 24,686 1, % 1,629 24, ,662 Bitinia Empreendimentos Imobiliários Ltda 21,207 39,680 (18,473) (1,105) 99.90% (1,104) (18,454) - 18,454 - Bolero Empreendimentos S/A 1,820 20,871 (19,051) 1, % 1,818 (19,032) - 19,032 - Bonina Empreendimentos Imobiliários Ltda (28) 2,386 (2,413) % 51 (2,411) - 2,411 - Borago Empreendimentos S/A (237) % 281 (237) Bordo Empreendimentos Imobiliários Ltda 8,593 3,281 5,312 (1) % (1) 5, ,312 Bouvardia Empreendimentos Imobiliários Ltda 16,402 6,934 9,468 (394) 99.90% (394) 9, ,459 Bresbe Empreendimentos Imobiliários Ltda 12,795 4,861 7, % 68 5, ,157 Brossasco Empreendimentos Imobiliários Ltda 44,624 46,196 (1,572) (206) 99.90% (206) (1,571) - 1,571 -

49 49 All Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Subsidiaries (cont.) Brumalia Empreendimentos Imobiliários Ltda 9 24 (15) (14) 99.90% (3) (14) Brutio Empreendimentos Imobiliários Ltda 22,849 36,225 (13,376) (1,043) 65.00% (678) (8,694) - 8,694 - Cabimas Empreendimentos Imobiliários Ltda 97, ,969 (17,521) (10,222) 99.90% (10,212) (17,503) - 17,503 - Caerulea Empreendimentos S/A 24,314 17,676 6,638 (35) 99.90% (35) 6, ,632 Cainara Empreendimentos Imobiliários Ltda (1) 99.90% (1) Caliandra Incorporadora Ltda 189, ,438 19, % 19 19, ,126 Calibracoa Empreendimentos S/A 9,478 6,426 3, % 5 3, ,053 Campainha Empreendimentos S/A % Carimbosa Empreendimentos Imobiliários Ltda 63,498 66,821 (3,322) % 718 (3,319) - 3,319 - Cariniana Empreendimentos S/A 10,111 14,828 (4,718) (148) % (148) (4,718) - 4,718 - Caroba Empreendimentos S/A % Cartamus Empreendimentos Imobiliários Ltda 112, , (867) % (867) Cartatica Empreendimentos Imobiliários Ltda 39,718 27,520 12,198 (59) % (59) 12, ,198 Catarantus Empreendimentos S/A 39,009 41,011 (2,002) (3,513) % (3,513) (2,002) - 2,002 - Cedrela Empreendimentos Imobiliários Ltda 1, , % - 1, ,598 Celebrete Empreendimentos S/A 58,161 37,677 20,483 (212) 99.90% (212) 20, ,463 Celebrity Icaraí Negócios Imobiliários Ltda 179 4,391 (4,212) 1, % 1,640 (4,212) - 4,212 - Celeni Empreendimentos Imobiliários Ltda 133, ,655 20,533 (2,825) % (2,825) 20, ,533 Ceressa Empreendimentos Imobiliários Ltda 1,457 1,465 (8) (9) 99.90% (9) (8) Certima Empreendimentos Imobiliários Ltda 7,598 1,952 5, % 47 5, ,641 Cheflera Empreendimentos Imobiliários Ltda 10, , % 4 9, ,350 Chilodus Empreendimentos Imobiliários Ltda 11,837 27,781 (15,944) % 63 (15,928) - 15,928 - Chilon Empreendimentos Imobiliários Ltda - 5 (5) (1) 99.90% (1) (5) Cianus Empreendimentos S/A 36,032 35, % Ciconia Empreendimentos Imobiliários Ltda 15,528 18,399 (2,871) (112) 99.90% (112) (2,868) - 2,868 - Cinara Empreendimentos S/A 28,346 20,925 7, % 31 7, ,421 Clarence Empreendimentos Imobiliários Ltda % Climenia Empreendimentos Imobiliários Ltda 65,089 65,552 (463) (1) 99.90% (1) (462) Clube Tuiuti Empreendimentos S/A 4,525 3,189 1, % Colocasia Empreendimentos Imobiliários Ltda 3,661 3, % Colorata Empreendimentos Imobiliários Ltda 4,925 3,256 1,669 1, % 1,692 1, ,669 Cond. das Palmeiras Empreendimentos S/A % Condominio das Palmeiras Desenvolvimento Imobiliário S/A 10,879 4,274 6, % Congorsa Empreendimentos S/A 1 33 (33) % 29 (33) Congossa Empreendimentos Imobiliários Ltda 2, , % 103 2, ,230 Consolda Empreendimentos Imobiliários Ltda 24,912 12,470 12, % , ,441 Convulata Empreendimentos S/A - 40 (40) % - (40) Coribante Empreendimentos Imobiliários Ltda % Cravina Empreendimentos S/A ,870 (13,372) % 87 (13,372) - 13,372 - Daciano Empreendimentos Imobiliários Ltda 1,180 1,190 (10) (1) 99.90% (1) (10) Dalmazo Empreendimentos Imobiliários Ltda - 4 (4) (1) 99.90% (1) (4) Damiane Empreendimentos Imobiliários Ltda 35,661 41,147 (5,486) (564) 99.90% (564) (5,480) - 5,480 - Dangila Empreendimentos Imobiliários Ltda 24,186 42,902 (18,716) (10,682) 70.00% (7,477) (13,101) - 13,101 - Del Monte Desenvolvimento Imobiliário Ltda 3,885-3, % - 3, ,885 Del Monte Negócios Imobiliários S/A % Delcine Empreendimentos Imobiliários Ltda (4) % - (4) Dessau Empreendimentos Imobiliários Ltda 21, ,829 (79,640) 5, % 5,681 (79,560) - 79,560 - Diantus Empreendimentos S/A 39,315 42,613 (3,298) (217) 99.90% (217) (3,295) - 3,295 - Diomedes Empreendimentos Imobiliários Ltda (5) % - (5) Diomen Empreendimentos Imobiliários Ltda (4) % - (4) Dipladênia Empreendimentos Imobiliários Ltda 37,332 36, (39) % (39) Dirito Empreendimentos Imobiliários Ltda 3,985 2,721 1,264 (183) % (183) 1, ,264 Dorinda Empreendimentos Imobiliários Ltda (5) (1) 99.90% (1) (5) Doubs Empreendimentos Imobiliários Ltda 14,784 2,959 11,826 (212) 99.90% (212) 11, ,814 Dranci Empreendimentos Imobiliários Ltda 59, ,157 (44,552) (23,853) 70.00% (16,697) (31,187) - 31,187 - Driope Empreendimentos Imobiliários Ltda 51,136 62,419 (11,283) (1,186) 99.90% (1,184) (11,272) - 11,272 - Dunedine Empreendimentos Imobiliários Ltda 27,284 27,872 (588) (1) 99.90% (1) (587) Eitorfe Empreendimentos Imobiliários Ltda 64,304 63, (1,942) 99.90% (1,940) Elida Empreendimentos Imobiliários Ltda 37,942 28,276 9,665 (155) % (155) 9, ,665 Empreendimento Imobiliário Jaguaré SPE Ltda 75,791 58,891 16,900 (54) % (54) 16, ,900 Entradero Empreendimentos Imobiliários Ltda (10) (5) 99.90% (5) (10) Entreverdes Urbanizadora S/A 11,769 19,069 (7,300) (3,042) % (3,042) (7,300) - 7,300 - Equinacia Empreendimentos S/A 93 4,925 (4,832) % 317 (4,832) - 4,832 - Ercilio Empreendimentos Imobiliários Ltda (5) % - (5) Erimanto Empreendimentos Imobiliários Ltda 16,902 26,656 (9,754) (132) % (31) (9,754) - 9,754 - Erinus Empreendimentos S/A 920 9,029 (8,109) % 27 (8,101) - 8,101 - Escabiosa Empreendimentos S/A 47,882 45,345 2,536 (22) 99.90% (22) 2, ,534 Escalda Empreendimentos Imobiliários Ltda 23,109 52,131 (29,022) (6,731) 99.90% (6,724) (28,993) - 28,993 - Estrumosa Empreendimentos S/A 13,251 12, (1) 99.90% (1) Etolia Empreendimentos Imobiliários Ltda 189, ,378 7,290 (1,841) 99.90% (1,839) 7, ,283 Euforbia Empreendimentos S/A (514) % 114 (514)

50 50 All Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Subsidiaries (cont.) Euriabe Empreendimentos S/A 3, ,555 (23) 99.90% (23) 2, ,552 Eustoma Empreendimentos S/A (86) % 163 (86) Exacum Empreendimentos Imobiliários Ltda - 44 (44) % - (44) Fabrice Empreendimentos Imobiliários Ltda 7,342 2,837 4, % 958 4, ,500 Faon Empreendimentos Imobiliários Ltda (393) (388) 99.90% (388) (392) Fasciata Empreendimentos Imobiliários Ltda 15,277 4,654 10, % 11 10, ,624 Finab Financiamento 3,140 1,166 1, % Florença Participações S/A 62,217 19,471 42,746 (244) 99.90% (243) 42, ,703 Frigia Empreendimentos Imobiliários Ltda 1, ,332 (7) 99.90% (7) 1, ,331 Furano Empreendimentos Imobiliários Ltda 9,866 1,763 8,104 3, % 3,626 8, ,104 Galeria Boulevard Desenvolvimento Imobiliário S/A 4, ,436 (26) 50.00% (13) 1, ,718 Galeria Boulevard Negócios Imobiliários S/A 14,199 2,185 12, % 169 6, ,007 Galeso Empreendimentos Imobiliários Ltda 22,034 22,384 (350) % 5 (350) Ganges Empreendimentos Imobiliários Ltda 1,260 1,368 (108) (2) 99.90% (2) (108) Garden Up Desenvolvimento Imobiliário Ltda 6,892 5, (46) 50.00% (23) Garden Up Negócios Imobiliários S/A 8,483 8,633 (150) (31) 50.00% (15) (75) Gardênia Participações S/A 2,515 2, (38) % (31) General Rondon Incorporadora Ltda 8,038 7, (349) 50.00% (174) Gestia Empreendimentos S/A 3,586 2,158 1,429 (4) 99.90% (4) 1, ,427 Giardino Desenvolvimento Imobiliário S/A 1-1 (60) % (30) Giardino Empreendimentos Imobiliários S/A 13 (41) % Girassol Incorporadora Ltda 4,329 1,392 2,937 (11) 99.99% (11) 2, ,937 Glicínia Desenvolvimento Imobiliário Ltda 3,429 1,188 2, % 2 2, ,241 Glinde Empreendimentos Imobiliários Ltda 111, ,504 (13,218) (2,609) 99.90% (2,606) (13,205) - 13,205 - Gonfrena Empreendimentos Imobiliários Ltda 254, ,767 6, % 701 6, ,308 Grandiflora Empreendimentos Imobiliários Ltda (674) % 207 (673) Gustávia Empreendimentos S/A 1, % Helicônias Desenvolvimento Imobiliário Ltda 1,441 (56) 1, % 1 1, ,497 Hibisco Incorporadora Ltda 6,598 6, % HOUSING BARÃO DO CAFÉ % Iberidifolia Empreendimentos Imobiliários Ltda 24, , % 9 24, ,182 Ibero Empreendimentos Imobiliários Ltda 8,549 7, (142) 99.90% (924) Ibicela Empreendimentos S/A 1,252 2,566 (1,314) % 10 (1,314) - 1,314 - Imbrasco Empreendimentos Imobiliários Ltda 77,785 81,986 (4,201) (261) 99.90% (261) (4,197) - 4,197 - Impatiens Empreendimentos Imobiliários Ltda 25,210 8,585 16,625 3, % 3,421 16, ,609 Indre Empreendimentos Imobiliários Ltda 26,244 26,416 (172) (76) 80.00% (61) (138) Ipomoea Empreendimentos Imobiliários Ltda 36,068 7,282 28,786 (453) % (453) 28, ,786 Iturbe Empreendimentos Imobiliários. Ltda 5,702 4,136 1, % 71 1, ,565 Jamino Empreendimentos Imobiliários Ltda 10 3,087 (3,077) (3,044) 99.90% (3,041) (3,073) - 3,073 - Jardim das Margaridas Empreendimentos imobiliários Ltda 12, ,919 (26) % (26) 11, ,919 Jetirana Empreendimentos S/A 94,153 54,689 39,464 (9,164) % (9,888) 38, ,740 Kansas Empreendimentos Imobiliários Ltda % Lacio Empreendimentos Imobiliários Ltda 15,860 30,434 (14,573) (52) 99.90% (52) (14,559) - 14,559 - Lacrima Empreendimentos Imobiliários Ltda 117, ,792 (25,407) (6,496) 99.90% (6,489) (25,382) - 25,382 - Lagos Empreendimentos S/A (18) % - (9) Laion Empreendimentos Imobiliários Ltda 42,449 9,020 33,429 (782) % (782) 33, ,429 Liepaja Empreendimentos Imobiliários Ltda 34,585 10,062 24,523 4, % 4,725 24, ,523 Linania Empreendimentos Imobiliários Ltda 142, ,992 (48,448) 3, % 3,131 (48,448) - 48,448 - Linum Empreendimentos Imobiliários Ltda 19,890 4,535 15,355 (330) 99.90% (330) 15, ,339 Lobelia Empreendimentos S/A 9,476 8, (1) % (1) Lobulama Empreendimentos Imobiliários Ltda 5,418 5,432 (14) % 3 (14) Lonicera Empreendimentos Imobiliários Ltda 7, , % 4 7, ,086 Malvaisco Empreendimentos Imobiliários Ltda 5,880-5,880 (45) % (45) 5, ,880 Mandevila Empreendimentos Imobiliários Ltda 2, , % - 1, ,648 Mansoa Empreendimentos Imobiliários Ltda 7,476 17,099 (9,623) (44) 99.90% (44) (9,613) - 9,613 - Marene Empreendimentos Imobiliários Ltda 1 4 (4) (1) 99.90% (1) (4) Marianinha Empreendimentos S/A 1, , % 187 1, ,137 Marshall Empreendimentos Ltda 4,593 4, % Matioca Empreendimentos Imobiliários Ltda 73,783 57,943 15,839 (17) % (17) 15, ,839 Melampodio Empreendimentos S/A 1 4,393 (4,392) (4,138) 99.90% (4,134) (4,387) - 4,387 - Mergonia Empreendimentos S/A % Mesembrianteme Empreendimentos Imobiliários Ltda (26) 99.90% (26) Mincio Empreendimentos Imobiliários Ltda 44,296 41,887 2,409 (258) % (258) 2, ,409 Minulo Empreendimentos S/A 168, ,364 (25,268) 1, % 1,389 (25,243) - 25,243 - Molie Empreendimentos Imobiliários Ltda 7,315 1,111 6,204 (253) 99.90% (252) 6, ,198 Monstera Empreendimentos S/A 90,691 59,276 31, % 31 31, ,383 Moscatu Empreendimentos S/A 91,626 49,710 41,916 8, % 8,600 41, ,916 Naiades Empreendimentos Imobiliários Ltda 441 3,609 (3,168) (15) 99.90% (15) (3,165) - 3,165 - Nenufar Empreendimentos Imobiliários Ltda 7,559 7, % Nepeta Empreendimentos S/A 56,126 37,632 18, % 1 18, ,476

51 51 All Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Subsidiaries (cont.) Nicandra Empreendimentos S/A 140,888 58,069 82, % , ,737 Nicotiana Empreendimentos Imobiliários Ltda 8 3,824 (3,816) % 41 (3,816) - 3,816 - Nicuri Empreendimentos Imobiliários Ltda 54,598 51,504 3,094 (996) 99.90% (995) 3, ,091 Nidus Empreendimentos S/A 72,194 81,616 (9,422) (511) 70.00% (358) (6,596) - 6,596 - Nievre Empreendimentos Imobiliários Ltda 10,113 23,271 (13,159) (17) 99.90% (17) (13,146) - 13,146 - Nigra Empreendimentos S/A % Nonacris Empreendimentos Imobiliários Ltda % Oelde Empreendimentos Imobiliários Ltda 21,861 7,155 14,706 (870) 70.00% (609) 10, ,294 Orquídea Incorporadora Ltda 79, ,138 (150,274) (2,846) % (2,846) (150,274) - 150,274 - Pachira Empreendimentos Imobiliários Ltda 4,084 1,515 2, % 90 2, ,569 Pacino Empreendimentos Imobiliários Ltda 2,959 5,797 (2,838) (149) % (149) (2,838) - 2,838 - Paludosum Empreendimentos Imobiliários Ltda 62 4,886 (4,824) % 221 (4,819) - 4,819 - Panaque Empreendimentos Imobiliários Ltda 21,191 5,309 15,881 (570) % (570) 15, ,881 Papoila Empreendimentos S/A 5,566 4,328 1,238 (91) 99.90% (91) 1, ,237 Peltatum Empreendimentos Imobiliários Ltda % Pepo Empreendimentos S/A 315 1,803 (1,489) % 73 (1,487) - 1,487 - Perpetuas Empreendimentos Imobiliários Ltda 41,867 26,568 15,298 (4) % (4) 15, ,298 Pervinca Empreendimentos S/A 29,716 33,675 (3,959) % 89 (3,959) - 3,959 - Petrea Empreendimentos Imobiliários Ltda 1, , % - 1, ,680 Pietraporzio Empreendimentos Imobiliários Ltda 4,356 1,622 2,734 (9) % (9) 2, ,734 Piper Empreendimentos S/A 13,165 10,384 2, % 84 1, ,669 Piracanta Empreendimentos S/A 1, , % 135 1, ,429 Plinia Empreendimentos Imobiliários Ltda 6,797-6, % - 6, ,797 Plomeu Empreendimentos Imobiliários Ltda (301) (294) 99.90% (294) (301) Porto Paradiso Empreendimentos S/A % Porto Paradiso Incorporadora S/A 510 2,050 (1,540) % 329 (1,540) - 1,540 - Pozuoli Empreendimentos Imobiliários Ltda 2,699 2,704 (5) (1) 99.90% (1) (5) Praça Capital Negócios Imobiliários Ltda 3, , % 143 3, ,058 Praça Paris Incorporadora S/A 338 5,168 (4,831) % 33 (4,831) - 4,831 - Prelude Empreendimentos S/A 101,388 97,125 4,263 (3,457) % (3,457) 4, ,263 Pulchela Empreendimentos S/A 3 5,093 (5,090) % 24 (5,085) - 5,085 - Pumila Empreendimentos S/A 6,703 10,073 (3,370) % 53 (3,370) - 3,370 - Purpurata Empreendimentos S/A 6,745-6, % - 6, ,745 Quadra B-3 Incorporadora Ltda 99 4,453 (4,353) (30) 99.90% (30) (4,349) - 4,349 - Quenopodio Empreendimentos S/A 16,474 13,406 3,068 (4) 75.00% (3) 2, ,301 Quibor Empreendimentos Imobiliários Ltda 995 5,663 (4,668) % 9 (4,663) - 4,663 - Ramizeri Empreendimentos Imobiliários Ltda 14,751 7,625 7,125 (5) 0.00% Raniona Empreendimentos Imobiliários Ltda 38,710 42,410 (3,701) (1,117) 99.90% (1,116) (3,697) - 3,697 - RCI Consultoria de Imóveis Ltda 5, ,668 (22) 99.90% (21) 4, ,663 Recreio Desenvolvimento Imobiliário Ltda 25,055 20,020 5,035 (44) % (44) 5, ,035 Recreio Empreendimentos Imobiliários Ltda 29,403 12,379 17,024 (6) % (6) 17, ,023 Rilstone Empreendimentos Imobiliários Ltda 1,608-1,608 (25) % (25) 1, ,608 Rimasco Empreendimentos Imobiliários Ltda 2,644 2,649 (5) (1) 99.90% (1) (5) Risaralda Empreendimentos Imobiliários Ltda 18,774 9,781 8, % 269 8, ,984 Riservato Negócios Imobiliários Ltda 1, , % - 1, ,700 Rodolita Empreendimentos Imobiliários Ltda 15,073 32,636 (17,563) (14,271) 99.90% (14,257) (17,545) - 17,545 - Rosalba Empreendimentos Imobiliários Ltda 8, , % - 8, ,098 Rossi Consultoria de Imóveis Ltda 10,398 20,590 (10,193) (1,148) 99.99% (1,148) (10,191) - 10,191 - Rossi Indústria de Artefatos de Concreto Ltda 16,418 31,941 (15,523) (575) % (575) (15,523) - 15,523 - Rossi Montante Incorporadora S/A 38,071 43,471 (5,400) (44) 99.98% (44) (5,399) - 5,399 - Rossi Morumbi Incorporadora S/A 9,343 21,166 (11,824) % 158 (11,824) - 11,824 - Rossi Oscar Porto Incorporadora Ltda 107,608 86,594 21, % 10 21, ,014 Rossi S/A 1,135 1,642 (508) (6) % (6) (508) Rossi Securities Empreendimentos Imobiliários Ltda 7, ,281 (15) % (15) 7, ,281 Rossi Trust e Participações Ltda 5, , % 589 5, ,691 RRTI Desenvolvimento Imobiliário Ltda 17,300 3,706 13,594 (12) % (12) 13, ,594 Rubrum Empreendimentos Imobiliários Ltda 6,787 14,968 (8,180) (716) % (716) (8,180) - 8,180 - Rype SPE 3 - Empreendimentos Imobiliário Ltda 29,953 27,334 2,619 (450) % (354) 2, ,619 Sabanalarga Empreendimentos Imobiliários Ltda 3,513 (174) 3, % 186 3, ,687 Sambre Empreendimentos Imobiliários Ltda 18,579 10,949 7,630 (61) 99.90% (61) 7, ,623 Sampeire Empreendimentos Imobiliários Ltda 2,625 2,630 (5) (1) 99.90% (1) (5) Sândalo Desenvolvimento Imobiliário Ltda 208,889 76, ,118 (5,788) % (5,788) 132, ,118 Sândalo Empreendimentos Ltda 160 (16) % Sanderae Empreendimentos Imobiliários Ltda ,532 (30,970) % 755 (30,970) - 30,970 - Sanquezia Empreendimentos Imobiliários Ltda 80,119 59,774 20,345 (19) 70.00% (13) 14, ,241 Santa Adelaida Empreendimentos Imobiliários Ltda 5,286 2,543 2, % 10 1, ,372 Santa Agape Empreendimentos Imobiliários Ltda 17,702 15,327 2,375 (13) 99.90% (3) 2, ,372 Santa Agia Empreendimentos Imobiliários Ltda 16,053 22,462 (6,410) % 125 (6,403) - 6,403 - Santa Alfreda Empreendimentos Imobiliários Ltda 6,222 1,867 4, % 4 4, ,351

52 52 All Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Subsidiaries (cont.) Santa Alice Empreendimentos Imobiliários Ltda 1,509 1,745 (236) (29) 50.00% (14) (118) Santa Amanda Empreendimentos Imobiliários Ltda 36,440 56,834 (20,393) (176) 80.00% (141) (16,315) 13,175 3,140 - Santa Apolonia Empreendimentos Imobiliários Ltda 47,750 18,953 28, % 91 28, ,796 Santa Aurelia Empreendimentos Imobiliários Ltda 30,900 28,436 2,464 (365) % (461) 2,464 1,354-3,818 Santa Brenda Empreendimentos Imobiliários Ltda % Santa Camila Empreendimentos Imobiliários Ltda 24,808 24, % Santa Capitolina Empreendimentos Imobiliários Ltda 4,743 4,734 8 (1) 99.90% (1) Santa Caridade Empreendimentos Imobiliários Ltda 24, , % , ,994 Santa Celestina Empreendimentos Imobiliários Ltda 37,416 86,034 (48,618) (3,615) 99.90% (3,611) (48,569) - 48,569 - Santa Dionisia Empreendimentos Imobiliários Ltda 11,051 17,849 (6,798) (552) 99.90% (552) (6,791) - 6,791 - Santa Doroteia Empreendimentos Imobiliários Ltda 1, , % 658 1, ,095 Santa Duna Empreendimentos Imobiliários Ltda 3,554 3, (1) 99.90% (1) Santa Edite Empreendimentos Imobiliários Ltda 478 5,248 (4,770) % 337 (4,765) - 4,765 - Santa Erasma Empreendimentos Imobiliários Ltda 5,061 4, % Santa Esperança Empreendimentos Imobiliários Ltda ,587 (13,377) % 853 (13,364) - 13,364 - Santa Estefania Empreendimentos Imobiliários Ltda , % 2, Santa Eufrosina Empreendimentos Imobiliários Ltda 10,741 6,600 4, % 39 4, ,137 Santa Exuperia Empreendimentos Imobiliários Ltda 8,526 12,439 (3,913) (226) % (226) (3,913) - 3,913 - Santa Flavia Empreendimentos Imobiliários Ltda 8,897 9,458 (562) % 2 (421) Santa Francisca Empreendimentos Imobiliários Ltda 12,364 12, % Santa Genoveva Empreendimentos Imobiliários Ltda 9,048 2,259 6, % 109 6, ,783 Santa Gontilda Empreendimentos Imobiliários Ltda 1 9,165 (9,164) (1) 99.90% (1) (9,155) - 9,155 - Santa Gundelina Empreendimentos Imobiliários Ltda (1) 99.90% Santa Iza Empreendimentos Imobiliários Ltda 12,464 3,561 8, % 631 7, ,123 Santa Justina Empreendimentos Imobiliários Ltda 2,705 2,808 (103) % 351 (103) Santa Lucrecia Empreendimentos Imobiliários Ltda (1,379) % (2,104) Santa Manuela Empreendimentos Imobiliários Ltda 15,273 11,454 3,819 (226) % (226) 3, ,819 Santa Margarete Empreendimentos Imobiliários Ltda 23,954 8,159 15, % 47 15, ,779 Santa Marianela Empreendimentos Imobiliários S/A 65,484 66,061 (576) (1,038) 90.00% (934) (519) Santa Matilda Empreendimentos Imobiliários Ltda 29,082 19,675 9, % 4 9, ,406 Santa Maura Empreendimentos Imobiliários Ltda 29,688 30,886 (1,198) (403) 87.50% (353) (1,048) - 1,048 - Santa Melania Empreendimentos Imobiliários Ltda 21,409 31,431 (10,022) (592) % (592) (10,022) - 10,022 - Santa Narcisa Empreendimentos Imobiliários Ltda 15,254 8,379 6, % - 6, ,875 Santa Natalia Empreendimentos Imobiliários Ltda 10,356 1,362 8,994 (14) 99.90% (14) 8, ,985 Santa Nina Empreendimentos Imobiliários Ltda 9,318 12,027 (2,709) (44) 99.90% (44) (2,706) - 2,706 - Santa Noemia Empreendimentos Imobiliários Ltda 8,004 20,115 (12,111) 1, % 1,638 (12,111) - 12,111 - Santa Odete Empreendimentos Imobiliários Ltda 3, , % 36 3, ,153 Santa Olga Empreendimentos Imobiliários Ltda 31,431 19,850 11, % 6 11, ,581 Santa Patrícia Empreendimentos Imobiliários Ltda ,335 (10,049) % 696 (10,049) - 10,049 - Santa Quilonia Participações e Empreendimentos Ltda (19) % - (19) Santa Quitéria Empreendimentos Imobiliários Ltda % Santa Rafaela Empreendimentos Imobiliários Ltda (42) 5,677 (5,719) (4) 99.90% (4) (5,713) - 5,713 - Santa Ruth Empreendimentos Imobiliários Ltda 21,142 9,420 11,721 (169) % (169) 11, ,721 Santa Sabina Empreendimentos Imobiliários Ltda 40,456 40, (160) % (160) Santa Susana Empreendimentos Imobiliários S/A 47,318 84,878 (37,560) (316) 99.90% (316) (37,522) - 37,522 - Santa Taciana Empreendimentos Imobiliários Ltda 8,089 7, (1) 99.90% (1) Santa Tarcila Empreendimentos Imobiliários Ltda 3, ,490 1, % 1,402 3, ,486 Santa Teodata Empreendimentos Imobiliários Ltda 56,115 78,951 (22,836) (3,282) % (3,282) (22,836) - 22,836 - Santa Zenaide Empreendimentos Imobiliários Ltda 34,404 14,656 19, % 86 19, ,728 Santa Zenobia Empreendimentos Imobiliários Ltda 4,465 (3) 4, % 33 4, ,468 Santa Zita Empreendimentos Imobiliários Ltda - 5,398 (5,398) % - (5,392) - 5,392 - Santa Priscila Empreendimentos Imobiliários Ltda 8, ,701 (65) % (65) 8, ,701 Santo Anastacio Empreendimentos Imobiliários S/A 12,495 40,481 (27,986) % 48 (27,958) - 27,958 - Santo Angelo Empreendimentos Imobiliários Ltda 14,567 12,629 1, % 41 1, ,936 Santo Antão Empreendimentos Imobiliários Ltda - 5,496 (5,496) (4,779) 99.90% (4,774) (5,490) - 5,490 - Santo Eduardo Empreendimentos Imobiliários Ltda 27,003 38,504 (11,501) (101) 99.90% (101) (11,490) - 11,490 - Santo Elias Empreendimentos Imobiliários Ltda - 5,350 (5,350) (4,165) 99.90% (4,161) (5,344) - 5,344 - Santo Erasmo Empreendimentos Imobiliários Ltda 114, ,267 (8,691) (1,732) 99.90% (1,730) (8,682) - 8,682 - Santo Estanislau Empreendimentos Imobiliários Ltda 65,080 77,168 (12,088) % 155 (12,088) - 12,088 - Santo Estevão Empreendimentos Imobiliários Ltda 8,807 6,011 2,796 (3) 99.90% (3) 2, ,793 Santo Eugenio Empreendimentos Imobiliários Ltda 6,327 6, (3) 99.90% (2,162) Santo Eusebio Empreendimentos Imobiliários Ltda 244 2,785 (2,540) % 55 (2,538) - 2,538 - Santo Evaristo Empreendimentos Imobiliários Ltda 60, ,302 (49,213) (5,822) % (5,822) (49,213) - 49,213 - Santo Expedito Empreendimentos Imobiliários S/A % Santo Humberto Empreendimentos Imobiliários Ltda 43,459 6,478 36, % , ,944 Santo Inacio Empreendimentos Imobiliários Ltda 12,691 12, (207) 99.90% (207) Santo Irineu Empreendimentos Imobiliários Ltda 14,577 6,354 8, % 1 7, ,196 Santo Lorenzo Empreendimentos Imobiliários Ltda 8, ,584 (32) % (32) 8, ,584 Santo Uriel Empreendimentos Imobiliários Ltda 32,973 43,738 (10,766) (740) 99.90% (739) (10,755) - 10,755 - São Beltran Empreendimentos Imobiliários Ltda 149 4,139 (3,990) % 25 (3,986) - 3,986 -

53 53 All Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Subsidiaries (cont.) São Benildo Empreendimentos Imobiliários Ltda 90 1,828 (1,739) (94) 99.90% (94) (1,737) - 1,737 - São Bertino Empreendimentos Imobiliários Ltda 10,791 20,008 (9,217) (123) 99.90% (123) (9,208) - 9,208 - São Bessario Empreendimentos Imobiliários Ltda (251) % 16 (251) São Braulio Empreendimentos Imobiliários Ltda 20,790 14,735 6, % 22 6, ,049 São Caemon Empreendimentos Imobiliários Ltda 6,375 7,872 (1,497) (166) 99.90% (166) (1,495) - 1,495 - São Celestino Empreendimentos Imobiliários Ltda (30) % 5 (30) São Cesario Empreendimentos Imobiliários Ltda 22,118 30,279 (8,161) (1,039) 99.90% (1,038) (8,153) - 8,153 - São Cornelio Empreendimentos Imobiliários Ltda 21,866 3,165 18,701 3, % 3,127 18, ,701 São Crisanto Empreendimentos Imobiliários Ltda 12,985 23,092 (10,107) (2,115) 99.90% (2,113) (10,097) - 10,097 - São Crispim Empreendimentos Imobiliários Ltda 64,670 31,799 32,871 (296) % (296) 32, ,871 São Crispiniano Empreendimentos Imobiliários Ltda 117, ,985 (37,857) (3,514) 99.90% (3,510) (37,819) - 37,819 - São Desiderio Empreendimentos Imobiliários Ltda % São Dionisio Empreendimentos Imobiliários Ltda 22,650 24,580 (1,930) % 16 (1,928) - 1,928 - São Geraldo Empreendimentos Imobiliarios Ltda 1,495-1, % 10 1, ,493 São Gerôncio Empreendimentos Imobiliários Ltda 8,364 3,264 5,100 (75) 70.00% (53) 3, ,570 São Gonzalo Empreendimentos Imobiliários Ltda 10,829 17,526 (6,697) (911) 70.00% (637) (4,688) - 4,688 - São Loureano Empreendimentos Imobiliários Ltda 4,044 9,102 (5,057) (315) 99.90% (315) (5,052) - 5,052 - São Mancio Empreendimentos Imobiliários Ltda 45,227 84,141 (38,914) (27) 99.90% (27) (38,875) - 38,875 - São Marçal Empreendimentos Imobiliários Ltda % São Marcelino Empreendimentos Imobiliários Ltda 13,587 13,602 (16) % 4 (16) São Mario Empreendimentos Imobiliários Ltda % São Martim Empreendimentos Imobiliários Ltda 68, ,123 (36,351) % 132 (36,351) - 36,351 - São Mauricio Empreendimentos Imobiliários Ltda 4,182 56,293 (52,111) % 614 (52,059) - 52,059 - São Mucio Empreendimentos Imobiliários Ltda 144 1,737 (1,593) % 133 (1,591) - 1,591 - São Nicodemus Empreendimentos Imobiliários Ltda 4,259 1,414 2,845 (14) 99.90% (14) 2, ,842 São Procopio Empreendimentos Imobiliários Ltda 78 6,534 (6,456) % 686 (6,450) - 6,450 - São Quirino Empreendimentos Imobiliários Ltda 1, ,024 1, % 1,545 1, ,023 São Remigio Empreendimentos Imobiliários Ltda 9,786 6,911 2, % 54 2, ,872 São Ricardo Empreendimentos Imobiliários Ltda % São Severino Empreendimentos Imobiliários Ltda 6,934 4,523 2,411 (259) 80.00% (208) 1, ,929 São Teodorico Empreendimentos Imobiliários Ltda 2,468 16,209 (13,741) % 289 (13,727) - 13,727 - São Teofilo Empreendimentos Imobiliários Ltda 8,760 2,977 5,783 (21) 99.90% (21) 5, ,777 São Tranquilino Empreendimentos Imobiliários Ltda 47,215 49,962 (2,747) (35) 99.90% (41) (2,744) - 2,744 - São Norberto Empreendimentos Imobiliários Ltda 4,123 4,132 (9) (1) 99.90% (1) (9) Sarapo Empreendimentos Imobiliários Ltda 6,606 9,644 (3,038) (69) 99.90% (69) (3,035) - 3,035 - Saratoga Empreendimentos Imobiliários Ltda 31,520 28,397 3, % 17 3, ,123 Sarita Empreendimentos Imobiliários Ltda 97 1,485 (1,388) % 84 (1,387) - 1,387 - SCP Alegro - Araucaia Empreend (31) 0.00% SCP Celebrete - Celebrete Empreend. 181, ,449 40,434 (175) 50.00% (88) 20, ,217 SCP Cotegipe - Araucaia Empreend. 30,516-30, % SCP Fabrice 7,961 6,062 1,899 (5) 0.00% Sempreflores Empreendimentos Imobiliários Ltda (1) 99.90% (1) Shuarbe Empreendimentos Imobiliários Ltda % Sinuatum Empreendimentos Imobiliários Ltda 27,659 54,914 (27,255) (1,072) 99.90% (1,071) (27,228) - 27,228 - Sisiano Empreendimentos Imobiliários Ltda % Sogamoso Empreendimentos Imobiliários Ltda 5, ,485 (182) 99.90% (182) 5, ,479 SPE Alto da Boa Vista Empreendimentos Imobiliários T Ltda 35,072 14,109 20,962 (471) 99.90% (471) 20, ,941 SPE Condomínio Jardins da França Ltda 32,792 6,030 26,762 (593) 99.90% (593) 26, ,735 SPE Condomínio Recanto das Árvores Ltda 44,862 53,667 (8,806) (403) 99.90% (402) (8,797) - 8,797 - SPE Condomínio Vila Das Artes Ltda 40,063 44,265 (4,202) (1,148) 99.90% (1,147) (4,198) - 4,198 - SPE Parque Sementeiras Empreendimentos Imobiliários T Ltda 76, ,875 (33,750) (6,159) 99.90% (6,150) (33,716) - 33,716 - SPE Pier Empreendimentos Imobiliários Ltda 31,899 6,782 25,117 (2,193) % (2,193) 25, ,117 Tacarigua Empreendimentos Imobiliários Ltda (6) (1) 99.90% (1) (6) Tadorna Empreendimentos Imobiliários Ltda 34,457 18,410 16,047 (192) 99.90% (192) 16, ,031 Tainacam Empreendimentos Imobiliários Ltda 8,119 9,811 (1,692) % 2 (1,690) - 1,690 - Talauma Empreendimentos S/A % Tanais Empreendimentos Imobiliários Ltda 1,189 6,001 (4,812) (4,542) 99.90% (4,537) (4,807) - 4,807 - Tapiriri Empreendimentos S/A 42,839 36,754 6, % 11 6, ,007 Tauranga Empreendimentos Imobiliários Ltda 78,728 86,365 (7,637) % 725 (7,629) - 7,629 - Temiscira Empreendimentos Imobiliários Ltda 11,181 4,700 6, % 76 3, ,241 Tenela Empreendimentos S/A 8,645-8, % - 8, ,645 Tessalia Empreendimentos Imobiliários Ltda 29,539 41,788 (12,249) % 75 (12,237) - 12,237 - Teutrania Empreendimentos Imobiliários Ltda 48,974 46,760 2, % 603 2, ,211 Tibouchina Empreendimentos S/A 633 1,752 (1,119) % 6 (1,119) - 1,119 - Tieze Empreendimentos Imobiliários Ltda 4,160 4,163 (4) (1) 99.90% (1) (4) Tindaro Empreendimentos Imobiliários Ltda 11,460 8,989 2, % 64 2, ,469 Tintoria Empreendimentos S/A - 26 (26) % - (26) Trevoro Empreendimentos Imobiliários Ltda 2,812 2,817 (6) (1) 99.90% (1) (6) Troade Empreendimentos Imobiliários Ltda 18,387 15,667 2,720 (766) % (766) 2, ,720 Trombeta Empreendimentos Imobiliários Ltda 127, ,803 26,672 5, % 5,670 26, ,672

54 54 All Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Subsidiaries (cont.) Tulipa Incorporadora Ltda 45,576 65,543 (19,967) (2,287) % (2,287) (19,967) - 19,967 - Tunico Empreendimentos Imobiliários Ltda 2,342 11,037 (8,695) (212) 99.90% (211) (8,686) - 8,686 - Uribia Empreendimentos Imobiliários Ltda 7,656 6, (1) 99.90% (1) Valpeline Empreendimentos Imobiliários Ltda 2,234 2,239 (4) (1) 99.90% (1) (4) Vardaman Empreendimentos Imobiliários Ltda % Vicença Empreendimentos Imobiliários Ltda 18,158 22,272 (4,113) (124) 50.00% (62) (2,057) - 2,057 - Vigo Empreendimentos S/A 9,798 3,137 6,661 (424) % (424) 6, ,661 Vila Flora Hortolândia Empreendimentos Imobiliários Ltda 154, ,825 50, % , ,355 Vinadio Empreendimentos Imobiliários Ltda 25,062 24, (6) 99.90% (6) Viterbo Empreendimentos Imobiliários Ltda 75,445 77,609 (2,164) % 386 (2,161) - 2,161 - Vitis Empreendimentos S/A 58,635 62,192 (3,557) (410) 99.90% (410) (3,554) - 3,554 - Zaculeu Empreendimentos Imobiliários Ltda 19,187 17,277 1,910 (54) 99.90% (54) 1, ,908 Zadoque Empreendimentos Imobiliários Ltda 24,188 35,959 (11,771) (7,861) 90.00% (7,075) (10,594) - 10,594 - Capisicum Empreendimentos Imobiliarios Ltda. 2, ,830 (29) % - 1, ,830 Sibipuruna Empreendimentos Imobiliários Ltda % Praça Paris Desenvolvimento Imobiliário S/A % Celebrity Icaraí Desenvolvimento Imobiliário Ltda % Caudata Empreendimentos Imobiliários Ltda % (24) Malagueta Empreendimentos S/A % Zuquini Empreendimentos S/A % (3) Piripiri Empreendimentos S/A % Aristata Empreendimentos S/A % Uliginosa Empreendimentos Imobiliários Ltda % São Prudencio Empreendimentos Imobiliários Ltda % Santa Odilia Empreendimentos Imobiliários Ltda % (13) São Maurilio Empreendimentos Imobiliários Ltda % Santa Georgia Empreendimentos Imobiliários Ltda % Shuarbe Incorporações de Empreendimentos Imobiliários Ltda % Goodwill 16,408 16,408 Capitalized charges 43,645 43,645 Other (6,110) (54) 1 (53) Subtotal subsidiaries 10,191,357 9,871, ,198 (171,185) (166,136) 249,200 22,661 1,803,784 2,075,640

55 55 Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Non-controlled subsidiaries Abante Empreendimentos Imobiliários Ltda. 2, , % Abelia Empreendimentos Imobiliários Ltda 1, ,090 (1) 33.93% Acidantera Empreendimentos Imobiliários Ltda 1, , % Adenium Empreendimentos Imobiliários Ltda 1, , % Agave Empreendimentos Imobiliários Ltda 1, , % Aliberti Empreendimentos S/A 10,157 9,108 1,048 (43) 75.00% (32) Alzete Empreendimentos Imobiliários Ltda 45,523 53,301 (7,778) (815) 0.10% Amarelinha Empreendimentos S/A 6,170 5, % Anadir Empreendimentos Imobiliários Ltda 9 35 (26) (1) 0.10% Anagalis Empreendimentos S/A (585) % - (292) Ananke Empreendimentos Imobiliários Ltda - 31 (31) (2) 0.10% Aneliasia Empreendimentos S/A 1,818 1, (9) 50.00% (4) Anemone Empreendimentos S/A 2,259 1, % Anfriso Empreendimentos Imobiliários Ltda 7,546 1,285 6,262 (61) 0.10% Anona Empreendimentos S/A 15,430 18,565 (3,136) % 38 (1,411) - 1,411 - Apolda Empreendimentos Imobiliários Ltda 38,515 44,197 (5,683) (1,469) 0.10% (6) (6) Ardisia Empreendimentos S/A 110, ,270 (25,919) (807) 90.00% (726) (23,327) 49,518-26,191 Aretusa Empreendimentos Imobiliários Ltda 8,412 6,201 2,211 (63) 0.00% Astilbe Empreendimentos Imobiliários Ltda 2,777 1,230 1, % Avinon Empreendimentos Imobiliários Ltda 63,612 86,113 (22,500) (6,501) 0.10% (20) (23) Baça Empreendimentos Imobiliários Ltda (448) % Baceiro Empreendimentos Imobiliários Ltda 23,936 10,206 13,730 (14) 0.10% Batuira Empreendimentos Imobiliários Ltda 19,491 9,623 9, % Berilo Empreendimentos Imobiliários Ltda - 1,661 (1,661) % (2) (2) Bétula Empreendimentos S/A 13,347 4,436 8,910 (59) 70.00% (37) 6, ,237 Brassica Empreendimentos S/A 11,599 11,936 (338) % 207 (236) Bucaramanga Empreendimentos Imobiliários Ltda 69,695 65,692 4,002 (9,039) 0.10% (9) Calabozo Empreendimentos Imobiliários Ltda 3,005 3,141 (136) (3) 0.10% Calaminta Empreendimentos S/A 5,170 5, (35) 50.00% (17) Caliméria Empreendimentos Imobiliários Ltda 25,395 24,160 1, % Campanula Empreendimentos S/A 7,906 7, % Campos Sales Empreendimentos Imobiliários Ltda 58,053 20,554 37,499 (2,588) 40.00% (964) 15, ,000 Caniço Empreendimentos Imobiliários Ltda - 14 (14) % Capital Rossi Empreendimentos S/A 1,881,893 1,746, ,090 (38,486) 50.00% (19,243) 67, , ,423 Cartaxo Empreendimentos Imobiliários Ltda 50,536 69,053 (18,517) (2,695) 0.10% (15) (19) Cefisso Empreendimentos Imobiliários Ltda 234, ,574 (26,044) (6,479) 0.10% (18) (26) Centela Empreendimentos S/A 6,479 3,888 2, % 25 1, ,684 Ciclame Desenvolvimento Imobiliário S/A 42,261 16,264 25,997 (121) 94.41% (114) 24, ,544 Ciclame Empreendimentos S/A 3,273 1,501 1,772 (36) 70.00% (25) 1, ,241 Citero Empreendimentos Imobiliários Ltda 80,649 85,907 (5,258) (253) 0.10% Cleomeia Empreendimentos S/A 76,408 19,124 57, % , ,371 Coreópisis Empreendimentos S/A 100, ,912 (9,792) % 355 (4,651) - 4,651 - Coriandrum Empreendimentos S/A (16) 50.00% (8) Costa São Caetano Empreendimentos S/A 58,782 65,899 (7,117) % 110 (3,559) - 3,559 - Courgete Empreendimentos S/A 8,997 23,915 (14,918) (224) 50.00% (112) (7,459) - 7,459 - Crimiso Empreendimentos Imobiliários Ltda 17,704 17, (714) 0.10% Cumbria Empreendimentos Imobiliários Ltda 89, ,931 (19,674) (5,775) 0.10% (16) (20) Dalia Empreendimentos Imobiliários Ltda (17) 50.00% (8) Damacena Empreendimentos S/A 187, ,208 (42,584) (3,724) 65.00% (2,421) (27,680) 55,896-28,217 Demetris Empreendimentos Imobiliários Ltda 21,005 19,859 1, % Deodoro Empreendimentos Imobiliários Ltda 3,374 3,553 (178) (3) 0.10% Difusa Empreendimentos S/A 93,943 38,892 55,051 1, % 1,044 35, ,783 Dinarte Empreendimentos Imobiliários Ltda 2, ,776 (1) 0.00% Duarte - Edificio Vila Boa Vista Ltda 10,712 7,328 3,384 (331) 50.00% (165) 1, ,692 Egeon Empreendimentos Imobiliários Ltda 4,232 4,700 (467) (5) 0.10% Elvas Empreendimentos Imobiliários Ltda 29,546 33,325 (3,779) 1, % 814 (2,456) - 2,456 - Enipeu Empreendimentos Imobiliários Ltda 85, ,515 (19,015) (8,658) 0.10% Erasino Empreendimentos Imobiliários Ltda (167) % Eridano Empreendimentos Imobiliários Ltda 224, ,423 (26,348) (9,097) 0.10% (22) (26) Erioteca Empreendimentos S/A (1) 50.00% (1) Esepo Empreendimentos Imobiliários Ltda 124, ,034 (4,372) (584) 0.00% Esposende Empreendimentos Imobiliários Ltda - 11 (11) % Estrimon Empreendimentos Imobiliários Ltda (773) % (1) (1) Flegetonte Empreendimentos Imobiliários Ltda (6) (1) 0.10% Freamunde Empreendimentos Imobiliários Ltda 16,962 7,920 9,042 (835) 65.00% (543) 5, ,877 Fucsia Empreendimentos S/A 140, ,146 (64,556) (1,694) 60.00% (1,016) (38,734) - 38,734 - Glicínia Empreendimentos S/A 2,024 1, % Guaipira Empreendimentos Imobiliários Ltda 26,416 2,590 23,825 3, % Hibride Empreendimentos Imobiliários Ltda 51,996 45,429 6, % Ideal Matão Negócios Imobiliários Ltda 20,985 15,767 5,218 6, % 3,216 2, ,606

56 56 Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Non-controlled subsidiaries (cont.) Incana Empreendimentos S/A 14,167 9,590 4, % 83 2, ,288 Ipiales Empreendimentos Imobiliários Ltda (22) (1) 0.10% Ituni Empreendimentos Imobiliários. Ltda - 18 (18) (1) 0.10% LHM Participação S/A - 24 (24) % - (12) Londres Empreendimentos S/A 35,525 42,211 (6,686) % 13 (3,343) - 3,343 - Machiques Empreendimentos Imobiliários Ltda 107, ,302 (17,667) (3,544) 0.10% (17) (18) Maine Empreendimentos Imobiliários Ltda 50,364 1,871 48,493 5, % Malmequer Empreendimentos S/A 108, ,828 6, % 24 3, ,099 Mandarim Empreendimentos Imobiliários Ltda 50,358 56,621 (6,263) (975) 65.00% (634) (4,071) - 4,071 - Messina Incorporação SPE Ltda 31,459 28,171 3,288 5, % 2,529 1,644 2,786-4,430 Moinho Velho Empreendimentos Imobiliários SPE Ltda 11, ,927 (1) 50.00% (12) 5, ,964 Mucuna Empreendimentos S/A 6,734 6,911 (177) % 2 (124) Norcon Rossi Empreendimentos. S/A 1,002, , ,615 (43,516) 70.00% (30,461) 129,231 44, ,788 North York Empreendimentos S/A 2, , % - 1, ,213 North York Negócios Imobiliários S/A 2,198 2,952 (755) (75) 50.00% (37) (377) Pacarana Empreendimentos Imobiliários Ltda 10, ,089 1, % Peônia Empreendimentos Imobiliários S/A 88,277 41,095 47,182 (351) 33.70% (118) 15, ,773 Persefone Empreendimentos Imobiliários Ltda 11,473 2,009 9,464 (1) 0.00% Pinerolo Empreendimentos Imobiliários Ltda 20, , % - 9, ,999 Pirna Empreendimentos Imobiliários Ltda 69,986 89,858 (19,872) (7,520) 0.10% (14) (20) Prunus Empreendimentos S/A 4,456 2,599 1,857 (75) 42.50% (32) RCG Urbanismo Ltda 49,675 21,199 28, % 120 7, ,151 Realengo SPE Empreendimento Imobiliário S/A (282) % - (169) Salmiana Empreendimentos S/A 48,490 42,130 6, % 35 3, ,180 Sangario Empreendimentos Imobiliários Ltda 67,931 79,190 (11,259) (4,881) 0.10% Santa Adelvina Empreendimentos Imobiliários Ltda 89,555 91,745 (2,190) (267) 0.00% Santa Agueda Empreendimentos Imobiliários Ltda 1 7 (6) % - (3) Santa Antonina Empreendimentos Imobiliários Ltda 4, , % 72 2, ,776 Santa Aurora Empreendimentos Imobiliários Ltda 15,297 9,196 6,100 (27) 0.10% Santa Beatriz Empreendimentos Imobiliários Ltda 142, ,921 (21,939) (1,166) 55.00% (641) (12,067) - 12,067 - Santa Belina Empreendimentos Imobiliários Ltda 12,783 2,134 10, % Santa Calixta Empreendimentos Imobiliários Ltda 25,919 7,719 18, % Santa Cassilda Empreendimentos Imobiliários Ltda 18,148 3,670 14,479 (1,031) 0.10% Santa Cordelia Empreendimentos Imobiliários Ltda 69,019 92,709 (23,690) (2,097) % (20) (24) Santa Emereciana Empreendimentos Imobiliários Ltda 27,375 6,266 21,110 (927) 0.00% Santa Enriqueta Empreendimentos Imobiliários Ltda 17,371 26,607 (9,235) % 121 (5,541) - 5,541 - Santa Felipa Empreendimentos Imobiliários Ltda 13, , % 353 7, ,932 Santa Fidelmia Empreendimentos Imobiliários Ltda. 10,982 1,586 9,396 (25) 0.02% Santa Giana Empreendimentos Imobiliários Ltda 33,237 4,822 28,415 1, % Santa Humbelina Empreendimentos Imobiliários Ltda 28,078 20,034 8, % Santa Kilian Empreendimentos Imobiliários Ltda 38,961 49,032 (10,071) (1,347) 60.00% (808) (6,042) 16,838-10,796 Santa Leoncia Empreendimentos Imobiliários Ltda 30,722 7,506 23,217 (746) 0.00% Santa Silvana Empreendimentos Imobiliários Ltda 29,519 6,968 22, % , ,403 Santa Silvia Empreendimentos Imobiliários Ltda 47,950 65,612 (17,662) (2,121) 55.00% (1,167) (9,714) - 9,714 - Santa Sofia Empreendimentos Imobiliários Ltda 154, ,979 (1,042) (577) 10.00% (58) (104) Santa Solange Empreendimentos Imobiliários Ltda 17,407 2,976 14,431 (33) 10.00% (3) 1, ,443 Santo Adriano Empreendimentos Imobiliários Ltda 4, , % 142 2, ,358 Santo Agostinho Empreendimentos Imobiliários Ltda 13,406 26,792 (13,385) (429) 60.00% (257) (8,031) - 8,031 - Santo Alberto Empreendimentos Imobiliários Ltda 6,963 7,050 (87) (16) 70.00% (12) (61) Santo Amadeu Empreendimentos Imobiliários Ltda 67,063 50,035 17,028 (7) 95.00% (6) 16, ,177 Santo Anatolio Empreendimentos Imobiliários Ltda 38,423 9,877 28,546 (1,865) 0.00% Santo Aniceto Empreendimentos Imobiliários Ltda 11,061 5,712 5, % 179 2, ,674 Santo Artemio Empreendimentos Imobiliários Ltda 40,278 48,765 (8,487) (992) 0.10% (7) (8) Santo Egidio Empreendimentos Imobiliários Ltda 23,130 36,448 (13,318) (566) 50.00% (283) (6,659) - 6,659 - Santo Eliseu Empreendimentos Imobiliários Ltda 10, , % 109 1, ,342 Santo Ildefonso Empreendimentos Imobiliários Ltda. 74,335 83,978 (9,643) (2,481) 0.10% (9) (10) Santo Indalecio Empreendimentos Imobiliários Ltda 12,908 5,810 7,097 (141) 0.10% Santo Isidro Empreendimentos Imobiliários Ltda - 65 (65) % - (42) Santo Orlando Empreendimentos Imobiliários Ltda 13,508 3,500 10, % - 7, ,005 São Basilio Empreendimentos Imobiliários Ltda 18,722 21,851 (3,129) (254) 70.00% (178) (2,190) - 2,190 - São Boris Empreendimentos Imobiliários Ltda - 12 (12) % - (8) São Constantino Empreendimentos Imobiliários Ltda 47,328 59,026 (11,698) (1,402) 0.10% (12) (12) São Daniel Empreendimentos Imobiliarios Ltda 75, ,066 (28,221) (5,475) 0.10% (21) (28) São Felix Empreendimentos Imobiliários Ltda 54,774 15,904 38,870 (6) 55.00% (3) 21, ,379 São Fiacre Empreendimentos Imobiliários Ltda. 38,360 40,452 (2,093) % (2) (2) São Fidelis Empreendimentos Imobiliários Ltda 54,772 74,269 (19,497) (4,845) 50.00% (2,422) (9,749) 13,121-3,373 São Hipolito Empreendimentos Imobiliários Ltda 61,041 73,318 (12,277) (1,358) 10.00% (136) (1,228) - 1,228 - São Leopoldo Empreendimentos Imobiliários Ltda 19,149 3,720 15,428 (362) 10.00% (36) 1, ,543 São Raimundo Empreendimentos Imobiliários Ltda 54,169 55,429 (1,259) (1,319) 0.10% (2) (1) São Ramiro Empreendimentos Imobiliários Ltda 14,463 1,419 13,043 (640) 50.00% (320) 6, ,522

57 57 Assets Liabilities Equity September-17 Profit (loss) for the period Equity interest - % Share of profit (loss) of investees Investments balance AFCI s Transf. equity deficiency Total investments Non-controlled subsidiaries (cont.) São Sinfronio Empreendimentos Imobiliários Ltda. 34,231 1,195 33,035 (1,113) 0.00% São Teobaldo Empreendimentos Imobiliários Ltda 42,019 16,779 25, % 27 22, ,716 Sarpedon Empreendimentos Imobiliários Ltda 3,693 3, (1) 26.00% Sarre Empreendimentos Imobiliários Ltda 82,527 93,986 (11,459) (1,738) 0.00% - (11) Seina Empreendimentos Imobiliários Ltda 19,265 22,237 (2,972) (510) 50.00% (255) (1,486) - 1,486 - Simois Empreendimentos Imobiliários Ltda 72,122 57,196 14,926 12, % Soacha Empreendimentos Imobiliários Ltda 1,127 2,616 (1,488) (1,211) 0.01% SPE Accordes do Horto Empreendimentos Imobiliários T Ltda. 1,728 1, (1) 0.00% SPE Accordes Jabotiana Empreendimentos Imobiliários T Ltda. 24,118 1,679 22, % SPE Accordes Universita Empreendimentos Imobiliários T Ltda. 30,259 1,011 29, % SPE Arqui Farolândia Empreendimentos Imobiliários T. Ltda (1) 0.00% SPE Brisas Do Alto Empreendimentos Imobiliários T Ltda % SPE Caminho das Árvores Empreendimentos Imobiliários T Ltda. 3, ,206 (1) 0.00% SPE Centro Saúde J.M.S. Ltda. 7, , % SPE Condomínio Boulevard Gustavo Dantas Ltda 21,705 9,348 12, % SPE Estações Um Empreendimentos Imobiliários T Ltda. 5, , % SPE Juca Sampaio Empreendimentos Imobiliários T Ltda % SPE Norcon Rossi Empreendimentos Imobiliários T Ltda (1) 0.00% SPE Quadra Cinco Empreendimentos Imobiliários T Ltda. 32,684 1,295 31,389 (592) 0.00% SPE Quadra Dois Empreendimentos Imobiliários T Ltda. 6, ,322 (1) 0.00% SPE Quadra Seis Primeiro Empreendimentos Imobiliários T Ltda. 3,536 2,253 1,284 (1) 0.00% SPE Quadra Três Empreendimentos Imobiliários T Ltda. 1, , % SPE Sancho Lote Cinco Empreendimentos Imobiliários T Ltda. 1,815 1, (2) 0.00% SPE Sancho Lote Dois Empreendimentos Imobiliários T Ltda % SPE Sementeiras Empreendimentos Imobiliários T Ltda. 12,984 1,577 11, % SPE Sítio Bacupari Empreendimentos Imobiliários T Ltda. 3,139 1,364 1,776 (1) 0.00% SPE Spazio Bello Empreendimentos Imobiliários T Ltda. 683 (60) % SPE Vilas Da Aruana Empreendimentos Imobiliários T Ltda. 14, ,421 (1) 0.00% Talassa Empreendimentos Imobiliários Ltda 9, , % 362 6, ,272 Termesso Empreendimentos Imobiliários Ltda 27,071 6,503 20,567 3, % Tiberino Empreendimentos Imobiliários Ltda 131 2,371 (2,240) % Tucupita Empreendimentos Imobiliários Ltda 33,159 33,815 (656) (10) 0.10% - (1) Tumbergia Empreendimentos S/A 22, , % 2 10, ,964 Turmero Empreendimentos Imobiliários Ltda 7, ,577 (11) 0.00% Velberte Empreendimentos Imobiliários Ltda 49,536 44,573 4,963 (894) 0.00% Vendeia Empreendimentos Imobiliários Ltda 28,767 13,764 15, % Visnaga Empreendimentos S/A 19,409 14,839 4, % 4 2, ,057 Zaraza Empreendimentos Imobiliários Ltda 55,210 50,139 5,072 1, % Adoncia Empreendimentos Imobiliários Ltda % (1,150) Acalantis Empreendimentos Imobiliários Ltda % Non-controlled subsidiaries Goodwill 91,344 91,344 Capitalized charges - Other Subtotal non-controlled subsidiaries 8,317,704 7,475, ,339 (146,859) 46 (52,893) 416, , ,332 1,112,815 Non-controlled subsidiaries of consolidated companies (cont.) Bom Sucesso Incorporação e Investimentos Imobiliários S/A. 28,005 3,476 24, % 1 6, ,899 Realty XXVI Empreendimentos Imobiliários Ltda 1,113 1,113 1, % Realty XXVIII Empreendimentos Imobiliários Ltda 27,729 27,729 18, % - 2, ,342 Other 15 Subtotal non-controlled subsidiaries 8,317,704 3,476 24, , ,752 Total Parent 18,509,061 17,346,517 1,162,537 (318,044) (219,041) 726, ,255 1,918,112 3,248,453 Total Consolidated 16,635,408 7,478, ,867 (146,856) (52,882) 426, , ,330 1,122,567

58 58 Exhibit I (sic) Summary of the main information on investments as at December 30, 2016: Assets Liabilities Shareholders Equity Dezembro-2016 Profit (Loss) for Interests the period % Equity in subsidiaries Investment Balance Advances for future capital increase Esquity deficiency transfer total Subsidiaries Abadir Empreendimentos Imobiliários Ltda 110, ,808 (22,057) (9,760) 99.90% (9,772) (22,035) - 22,035 - Abeguar Empreendimentos Imobiliários Ltda 66,918 60,324 6,594 4, % 1, Abrotano Empreendimentos Imobiliários Ltda 1 15 (14) % - (14) Absirto Empreendimentos Imobiliários Ltda 6,993 3,213 3,779 1, % 1,010 3, ,776 Açafate Empreendimento S/A 3,980-3, % 27 3, ,980 Acalifa Empreendimentos S/A 8,183 9,915 (1,732) (307) % (307) (1,732) - 1,732 - Acauã Investimentos Imobiliários Ltda 11, , % 88 7, ,778 Acer Participações S/A 20,064 25,823 (5,758) (1,174) 99.90% (1,179) (5,753) - 5,753 - Adiantum Empreendimentos Imobiliários Ltda (662) 99.90% (661) Afelandra Empreendimentos S/A 15,412 17,055 (1,643) % 577 (1,232) - 1,232 - Agerato Empreendimentos S/A 1,233 6,374 (5,141) (2,356) 99.90% (2,353) (5,136) - 5,136 - Aglaonema Empreendimentos S/A 25,477 17,411 8, % 134 8, ,058 Agraecum Empreendimentos S/A (17) 99.90% (10) Aisne Empreendimentos Imobiliários Ltda 30,691 25,651 5,039 (3,586) 0.00% (525) Alcea Empreendimentos Imobiliários Ltda 273,662 62, ,354 (4,432) % (4,432) 211, ,354 Aldrovandi Empreendimentos Imobiliários Ltda 3,242 1,396 1,846 2, % 2,129 1, ,844 Alocasia Empreendimentos S/A 2,769 19,623 (16,853) (91) 99.90% (91) (16,836) - 16,836 - Alpen Haus Desenvolvimento Imobiliário S/A 10,040 9, % Alpen Haus Negócios Imobiliários S/A 13,719 12,412 1,307 (831) 70.00% (582) Alquemila Empreendimentos Imobiliários Ltda 3,704-3, % 24 3, ,704 Alteia Empreendimentos Imobiliários Ltda 26,965 1,630 25, % , ,334 Alternantera Empreendimentos Imobiliários Ltda 105,066 61,157 43,909 (798) % (798) 43, ,909 América Piqueri Incorporadora S/A 5,558 4, (159) 20.00% (100) América Properties Ltda 46,319 43,513 2,806 (2,710) % (2,542) 2, ,806 América Urbanismo S/A 1,080 1,564 (483) % Amniso Empreendimentos Imobiliários Ltda 3, ,232 (4) 99.90% (6) 3, ,229 Anabi Empreendimentos Imobiliários Ltda 40,383 34,971 5,412 1, % 1, Anagalide Empreendimentos S/A 1,272 30,502 (29,230) (3,167) 99.90% (3,193) (29,201) 7,210 21,991 - Anapo Empreendimentos Imobiliários Ltda 14,298 6,440 7, % 764 7, ,850 Aniene Empreendimentos Imobiliários Ltda 9,183 4,274 4, % 95 4, ,904 Anigro Empreendimentos Imobiliários Ltda 19,840 1,392 18,448 9, % 9,396 18, ,448 Anloga Empreendimentos Imobiliários Ltda 10,598 3,611 6,987 (363) 70.00% (254) 4, ,891 Anteros Empreendimentos Imobiliários Ltda 10,460 9, (1,527) 99.90% (1,525) Antocleista Empreendimentos S/A 3,356 2, % Apidano Empreendimentos Imobiliários Ltda 139, ,429 (15,757) (6,532) 99.90% (6,541) (15,741) - 15,741 - Apuléia Empreendimentos Imobiliários Ltda 62 9,446 (9,384) (554) % (554) (9,384) - 9,384 - Araucaia Empreendimentos Imobiliários Ltda 35,964 4,644 31, % , ,319 Araure Empreendimentos Imobiliários Ltda 59,258 63,861 (4,604) (3,691) 99.90% (3,687) (4,599) - 4,599 - Argentea Empreendimentos S/A 199, ,955 (32,075) (1,089) 99.90% (1,088) (32,043) - 32,043 - Aristasia Empreendimentos Imobiliários Ltda (31) % (31) Aristata Empreendimentos S/A 1-1 (6) 99.93% Arkansas Empreendimentos Imobiliários Ltda 1,801-1, % 219 1, ,801 Artocarpus Empreendimentos Imobiliários Ltda 1, (26) 99.90% (11) Arundina Empreendimentos Imobiliários Ltda 1,414 1, % Asopo Empreendimentos Imobiliários Ltda 8,853 2,733 6,119 (300) 65.00% (195) 3, ,978 Assessoria Técnica, Imobiliária e Participações Ltda (1) 99.90% (1) Asterion Empreendimentos Imobiliários Ltda % Astir Assessoria Técnica Imobiliária e Participações Ltda 4,214 64,455 (60,241) (9,748) 99.90% (9,798) (60,181) - 60,181 - Atenor Empreendimentos Imobiliários Ltda ,300 (19,722) (2,857) 99.90% (2,873) (19,703) - 19,703 - Atmosfera Desenvolvimento Imobiliário S/A (50) 0.00% (961) Atmosfera Empreendimentos S/A 2-2 (50) 0.00% (48) Atromeia Empreendimentos S/A 57,359 29,983 27, % , ,348 Auriculata Empreendimentos S/A 1,121 5,393 (4,271) 1, % 1,192 (4,267) - 4,267 - Aven Empreendimentos Imobiliários Ltda 111, ,903 (16,961) (3,269) 99.90% (3,282) (16,944) - 16,944 - Bafira Empreendimentos Imobiliários Ltda 22,044 31,827 (9,784) (5,534) 65.00% (3,597) (6,359) - 6,359 - Barão de Café Empreendimentos Imob. S/A (810) 50.00% (810) Barão do Café Incorporadora S/A (1,777) 50.00% (889) Bazagueda Empreendimentos Imobiliários Ltda 23,847 23,877 (30) (5) 99.90% (5) (30) BCP Empreendimentos Imobiliários Ltda 11,490-11, % 48 11, ,490 Belinda Empreendimentos Imobiliários Ltda 136, ,661 (12,035) (6,874) 99.90% (6,867) (12,023) - 12,023 - Belisário Empreendimentos Imobiliários Ltda 20,356 10,952 9,404 (1,516) 99.90% (1,505) 9, ,395 Bidasoa Empreendimentos Imobiliários Ltda 14,981 17,452 (2,470) 1, % 1,020 (2,468) - 2,468 - Bisira Empreendimentos Imobiliários Ltda 31,250 8,195 23,055 10, % 8,831 23, ,032 Bitinia Empreendimentos Imobiliários Ltda 20,137 37,504 (17,367) (7,494) 99.90% (7,504) (17,350) - 17,350 - Bolero Empreendimentos S/A - 20,871 (20,871) % 27 (20,850) - 20,850 - Bonina Empreendimentos Imobiliários Ltda (27) 2,437 (2,465) (301) 99.90% (303) (2,462) - 2,462 - Borago Empreendimentos S/A (518) 1, % 1,069 (518) Bordo Empreendimentos Imobiliários Ltda 8,593 3,280 5,313 (2,652) % (2,652) 5, ,313 Bouvardia Empreendimentos Imobiliários Ltda 12,917 3,055 9,863 (272) 99.90% (262) 9, ,853 Bresbe Empreendimentos Imobiliários Ltda 11,595 3,766 7,829 (486) 65.00% (316) 5, ,089

59 59 Assets Liabilities Shareholders Equity Dezembro-2016 Profit (Loss) for Interests the period % Equity in subsidiaries Investment Balance Advances for future capital increase Esquity deficiency transfer total Subsidiaries (cont) Brossasco Empreendimentos Imobiliários Ltda 44,532 45,898 (1,366) (398) 99.90% (399) (1,365) - 1,365 - Brumalia Empreendimentos Imobiliários Ltda (1) % 8 (1) Brutio Empreendimentos Imobiliários Ltda 23,799 36,132 (12,333) (4,223) 65.00% (2,745) (8,017) - 8,017 - Cabimas Empreendimentos Imobiliários Ltda 107, ,723 (7,298) (2,485) 99.90% (2,358) (7,291) - 7,291 - Caerulea Empreendimentos S/A 24,205 17,531 6,674 (39) 99.90% (32) 6, ,667 Cainara Empreendimentos Imobiliários Ltda (1) 99.90% (1) Caliandra Incorporadora Ltda 189, ,375 19,107 (679) % (679) 19, ,107 Califórnia 5 Empreendimentos Imobiliários Ltda 3,502-3, % 149 3, ,502 Campainha Empreendimentos S/A % Carimbosa Empreendimentos Imobiliários Ltda 63,086 67,127 (4,041) (554) 99.90% (558) (4,037) - 4,037 - Caroba Empreendimentos S/A (1) 99.90% Cartamus Empreendimentos Imobiliários Ltda 112, ,941 1,116 (602) % (602) 1, ,116 Cartatica Empreendimentos Imobiliários Ltda 39,594 27,336 12, % , ,257 Catarantus Empreendimentos S/A 50,205 48,694 1, % Caudata Empreendimentos Imobiliários Ltda 2, , % 723 2, ,080 Cedrela Empreendimentos Imobiliários Ltda 1, , % 7 1, ,598 Celebrete Empreendimentos S/A 58,030 37,335 20, % , ,675 Celebrity Icaraí Desenvolvimento Imobiliário Ltda 2,633-2,633 (43) % (43) 2, ,633 Celebrity Icaraí Negócios Imobiliários Ltda (132) 5,720 (5,852) (9) % (9) (5,852) - 5,852 - Celeni Empreendimentos Imobiliários Ltda 134, ,310 23,358 2, % 2,117 23, ,358 Ceressa Empreendimentos Imobiliários Ltda 1,241 1, % Certima Empreendimentos Imobiliários Ltda 6, ,600 (107) 99.90% (107) 5, ,594 Cheflera Empreendimentos Imobiliários Ltda 10, , % 16 9, ,347 Chilodus Empreendimentos Imobiliários Ltda 10,660 26,666 (16,007) (306) 99.90% (321) (15,991) - 15,991 - Chilon Empreendimentos Imobiliários Ltda - 5 (4) (1) 99.90% (1) (4) Cianus Empreendimentos S/A 36,023 35, (69) 99.90% (69) Ciconia Empreendimentos Imobiliários Ltda 15,552 18,310 (2,759) 1, % 1,346 (2,756) - 2,756 - Cinara Empreendimentos S/A 26,855 19,466 7,390 (157) % (157) 7, ,390 Climenia Empreendimentos Imobiliários Ltda 64,977 65,439 (462) (8) 99.90% (8) (461) Clube Tuiuti Empreendimentos S/A 4,513 3,192 1, % Colocasia Empreendimentos Imobiliários Ltda 2,583 2,699 (116) (354) % (125) (116) Colorata Empreendimentos Imobiliários Ltda 3,845 3, % Cond. das Palmeiras Empreendimentos S/A (42) 99.98% 1, Condominio das Palmeiras Desenvolvimento Imobiliário S/A 10,311 3,706 6,605 (5) 0.00% (5) Congea Empreendimentos Imobiliários Ltda 4,462-4, % 23 4, ,462 Congorsa Empreendimentos S/A - 60 (60) (246) 99.90% (244) (60) Congossa Empreendimentos Imobiliários Ltda 2, , % 731 2, ,127 Consolda Empreendimentos Imobiliários Ltda 23,459 11,397 12, % , ,063 Coribante Empreendimentos Imobiliários Ltda % Cravina Empreendimentos S/A ,956 (13,458) % 65 (13,458) - 13,458 - Daciano Empreendimentos Imobiliários Ltda (9) (6) 99.90% (6) (9) Dalmazo Empreendimentos Imobiliários Ltda 1 4 (3) (1) 99.90% (1) (3) Damiane Empreendimentos Imobiliários Ltda 34,672 39,593 (4,921) (687) 99.90% (691) (4,916) - 4,916 - Dangila Empreendimentos Imobiliários Ltda 32,731 40,765 (8,034) (1,563) 70.00% (1,094) (5,624) - 5,624 - Del Monte Desenvolvimento Imobiliário Ltda 3,885-3, % 32 3, ,885 Del Monte Negócios Imobiliários S/A % Delcine Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Dessau Empreendimentos Imobiliários Ltda 14,108 99,434 (85,326) (4,922) 99.90% (5,524) (85,241) - 85,241 - Diantus Empreendimentos S/A 39,451 42,532 (3,081) (115) 99.90% (115) (3,078) - 3,078 - Diomedes Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Diomen Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Dions Empreendimentos Imobiliários Ltda 1 5 (4) (1) 99.90% (1) (4) Dipladênia Empreendimentos Imobiliários Ltda 39,738 35,014 4, % 21 2, ,362 Dirito Empreendimentos Imobiliários Ltda 4,167 2,720 1,447 (1) % (1) 1, ,447 Dorinda Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Doubs Empreendimentos Imobiliários Ltda 13,308 1,270 12, % , ,026 Dranci Empreendimentos Imobiliários Ltda 83, ,221 (20,700) (10,543) 70.00% (7,380) (14,490) - 14,490 - Driope Empreendimentos Imobiliários Ltda 50,223 60,321 (10,098) (4,794) 99.90% (4,800) (10,088) - 10,088 - Dunedine Empreendimentos Imobiliários Ltda 27,284 27,871 (587) (298) 99.90% (298) (587) Eitorfe Empreendimentos Imobiliários Ltda 43,272 40,972 2,300 (2,277) 99.90% (2,272) 2, ,297 Elida Empreendimentos Imobiliários Ltda 37,774 27,953 9,820 3, % 3,248 9, ,820 Empreendimento Imobiliário Jaguaré SPE Ltda 65,302 48,348 16,954 (5,618) % (5,618) 16, ,954 Entradero Empreendimentos Imobiliários Ltda (6) (1) 99.90% (1) (6) Equinacia Empreendimentos S/A 80 5,230 (5,149) % 27 (5,149) - 5,149 - Ercilio Empreendimentos Imobiliários Ltda (5) (1) 99.90% (1) (5) Erimanto Empreendimentos Imobiliários Ltda 16,834 26,455 (9,621) (149) 70.00% (104) (6,735) - 6,735 - Erinus Empreendimentos S/A 938 9,074 (8,136) % (1,336) (8,128) - 8,128 - Escabiosa Empreendimentos S/A 47,910 45,351 2, % 423 2, ,556 Escalda Empreendimentos Imobiliários Ltda 24,625 46,917 (22,292) (9,742) 99.90% (9,754) (22,269) - 22,269 - Estramoio Empreendimentos S/A (94) % (94)

60 60 Assets Liabilities Shareholders Equity Dezembro-2016 Profit (Loss) for Interests the period % Equity in subsidiaries Investment Balance Advances for future capital increase Esquity deficiency transfer total Subsidiaries (cont) Estrumosa Empreendimentos S/A 12,923 12, (28) 99.90% (27) Etolia Empreendimentos Imobiliários Ltda 172, ,152 9,131 12, % 12,655 9, ,122 Euforbia Empreendimentos S/A (628) (241) 99.90% (242) (627) Euriabe Empreendimentos S/A 3, ,578 (4,458) 99.90% (4,451) 2, ,576 Eustoma Empreendimentos S/A (249) (48) 99.90% (48) (249) Fabrice Empreendimentos Imobiliários Ltda 6,391 2,837 3,555 (23) 99.90% (28) 3, ,551 Faon Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Fasciata Empreendimentos Imobiliários Ltda 15,010 4,397 10,613 (692) % (692) 10, ,613 Finab Financiamento 2, , % Florença Participações S/A 61,590 18,600 42, % , ,947 Frigia Empreendimentos Imobiliários Ltda 1, ,339 (25) 99.90% (23) 1, ,337 Furano Empreendimentos Imobiliários Ltda 8,435 1,964 6,471 4, % 4,956 6, ,471 Galeria Boulevard Desenvolvimento Imobiliário S/A 4, ,462 (5) 50.00% (3) 1, ,731 Galeria Boulevard Negócios Imobiliários S/A 14,199 2,523 11,677 (193) 50.00% (97) 5, ,838 Galeso Empreendimentos Imobiliários Ltda 22,019 22,374 (355) (47) 99.90% (47) (355) Ganges Empreendimentos Imobiliários Ltda 1,258 1,365 (106) (4) 99.90% (4) (106) Garden Up Desenvolvimento Imobiliário Ltda 6,881 5, (43) 50.00% (22) Garden Up Negócios Imobiliários S/A 8,579 8,699 (120) (4) 50.00% (2) (60) Gardênia Participações S/A 2,514 2, % Gazania Empreendimentos Imobiliários Ltda 2,528-2, % 96 2, ,528 General Rondon Incorporadora Ltda 8,223 7, (480) 50.00% (240) Gestia Empreendimentos S/A 3,196 1,764 1, % 143 1, ,431 Giardino Desenvolvimento Imobiliário S/A % Giardino Empreendimentos Imobiliários S/A 13 (41) 55 (23) 50.00% (11) Girassol Incorporadora Ltda 4,293 1,345 2, % - 2, ,948 Glicínia Desenvolvimento Imobiliário Ltda 3,425 1,186 2, % 11 2, ,239 Glinde Empreendimentos Imobiliários Ltda 94, ,107 (10,609) (1,401) 99.90% (1,411) (10,599) - 10,599 - Gmelina Empreendimentos Imob.Ltda % Gonfrena Empreendimentos Imobiliários Ltda 253, ,038 5,606 1, % 1,831 5, ,606 Grandiflora Empreendimentos Imobiliários Ltda (881) (94) 99.90% (95) (880) Gustávia Empreendimentos S/A 1, (1) 99.98% (1) Helicônias Desenvolvimento Imobiliário Ltda 1,439 (57) 1, % 21 1, ,496 Hibisco Incorporadora Ltda 6,523 6, % Hirtela Empreendimentos Imobiliários Ltda 5, ,457 (159) % (159) 5, ,457 HOUSING BARÃO DO CAFÉ % Iberidifolia Empreendimentos Imobiliários Ltda 24, ,172 (213) % (213) 24, ,172 Ibero Empreendimentos Imobiliários Ltda 12,295 8,059 4,236 2, % 2,586 4, ,232 Ibicela Empreendimentos S/A 1,234 2,587 (1,353) (27) 24.26% (7) (328) Imbrasco Empreendimentos Imobiliários Ltda 69,589 73,529 (3,940) (2,411) 99.90% (2,408) (3,936) - 3,936 - Impatiens Empreendimentos Imobiliários Ltda 21,848 8,647 13,201 6, % 6,651 13, ,187 Indre Empreendimentos Imobiliários Ltda 26,221 26,317 (96) (182) 80.00% (146) (77) Ipomoea Empreendimentos Imobiliários Ltda 35,480 6,241 29, % , ,239 Iturbe Empreendimentos Imobiliários. Ltda 5,857 3,110 2,748 1, % 1,614 2, ,745 Jamino Empreendimentos Imobiliários Ltda 2,758 2,790 (32) (9) 99.90% (9) (32) Jardim das Margaridas Empreendimentos imobiliários Ltda 12, , % 87 11, ,944 Jetirana Empreendimentos S/A 112,844 64,216 48,628 2, % 5,419 48, ,628 Kansas Empreendimentos Imobiliários Ltda (421) 99.90% (579) Lacio Empreendimentos Imobiliários Ltda 15,159 29,680 (14,521) (2,597) 99.90% (2,594) (14,507) - 14,507 - Lacrima Empreendimentos Imobiliários Ltda 115, ,222 (18,911) (4,769) 99.90% (4,765) (18,892) - 18,892 - Lagos Empreendimentos S/A (18) (13) 50.00% (6) (9) Laion Empreendimentos Imobiliários Ltda 37,209 2,998 34,211 (894) % (894) 34, ,211 Liepaja Empreendimentos Imobiliários Ltda 25,527 3,730 21,797 7, % 7,551 21, ,797 Linania Empreendimentos Imobiliários Ltda 142, ,146 (51,579) (2,545) % (2,545) (51,579) - 51,579 - Linum Empreendimentos Imobiliários Ltda 16,786 1,101 15, % 80 15, ,669 Lobelia Empreendimentos S/A 9,476 8, (15) % (15) Lobulama Empreendimentos Imobiliários Ltda 4,742 4,757 (15) % 85 (15) Lonicera Empreendimentos Imobiliários Ltda 7, ,082 (34) % (34) 7, ,082 Malagueta Empreendimentos S/A - 25 (24) (947) 99.90% (936) (24) Malvaisco Empreendimentos Imobiliários Ltda 5, ,925 1, % 1,230 5, ,925 Mandevila Empreendimentos Imobiliários Ltda 2, ,648 (27) % (27) 1, ,648 Mangualde Empreendimentos Imobiliários Ltda % Mansoa Empreendimentos Imobiliários Ltda 6,773 16,352 (9,579) % 76 (9,569) - 9,569 - Marene Empreendimentos Imobiliários Ltda 1 4 (3) (1) 99.90% (1) (3) Marianinha Empreendimentos S/A (54) 99.99% Marshall Empreendimentos Ltda 4,397 4, (1) 0.00% (1) Matioca Empreendimentos Imobiliários Ltda 73,798 57,942 15,856 (5) % (5) 15, ,856 Melampodio Empreendimentos S/A 9,258 9,512 (254) (89) 99.90% (89) (253) Mesembrianteme Empreendimentos Imobiliários Ltda 26 2,789 (2,762) % 172 (2,760) - 2,760 - Mincio Empreendimentos Imobiliários Ltda 44,378 41,711 2, % 473 2, ,667 Minulo Empreendimentos S/A 165, ,429 (26,658) (1,606) 99.90% (1,631) (26,631) - 26,631 -

61 61 Assets Liabilities Shareholders Equity Dezembro-2016 Profit (Loss) for Interests the period % Equity in subsidiaries Investment Balance Advances for future capital increase Esquity deficiency transfer total Subsidiaries (cont) Molie Empreendimentos Imobiliários Ltda 7,586 1,130 6, % 80 6, ,450 Monstera Empreendimentos S/A 90,674 59,290 31, % 74 31, ,353 Moscatu Empreendimentos S/A 80,032 46,716 33, % , ,316 Naiades Empreendimentos Imobiliários Ltda 441 3,594 (3,154) (304) 99.90% (304) (3,150) - 3,150 - Nenufar Empreendimentos Imobiliários Ltda 7,075 6, (114) 99.90% (114) Nepeta Empreendimentos S/A 56,123 37,629 18, % 73 18, ,475 Nicandra Empreendimentos S/A 140,883 58,176 82,706 1, % 1,976 82, ,624 Nicotiana Empreendimentos Imobiliários Ltda 42 3,899 (3,857) % 333 (3,857) - 3,857 - Nicuri Empreendimentos Imobiliários Ltda 53,879 49,789 4,090 4, % 4,202 4, ,086 Nidus Empreendimentos S/A 72,266 81,177 (8,911) % 180 (6,238) - 6,238 - Nievre Empreendimentos Imobiliários Ltda 9,759 22,901 (13,142) (843) 99.90% (856) (13,129) - 13,129 - Nigra Empreendimentos S/A % Nonacris Empreendimentos Imobiliários Ltda , % 3, Oelde Empreendimentos Imobiliários Ltda 22,551 6,975 15,576 3, % 2,663 10, ,903 Olerácea Empreendimentos S/A (97) % (96) Onagra Empreendimentos Imobiliários Ltda 7,378-7, % 38 7, ,378 Orquídea Incorporadora Ltda 78, ,258 (147,428) (10,282) % (10,282) (147,428) - 147,428 - Pachira Empreendimentos Imobiliários Ltda 4,154 1,675 2,479 (1,286) % (1,286) 2, ,479 Pacino Empreendimentos Imobiliários Ltda 2,808 5,498 (2,689) (127) % (127) (2,689) - 2,689 - Paludosum Empreendimentos Imobiliários Ltda 1,680 6,725 (5,045) % 344 (5,040) - 5,040 - Panaque Empreendimentos Imobiliários Ltda 21,445 4,993 16,452 1, % 1,161 16, ,452 Papoila Empreendimentos S/A 5,664 4,335 1, % 348 1, ,328 Peltatum Empreendimentos Imobiliários Ltda (5) 99.90% (5) Pepo Empreendimentos S/A 315 1,876 (1,562) % 117 (1,560) - 1,560 - Perpetuas Empreendimentos Imobiliários Ltda 39,970 24,667 15, % , ,303 Pervinca Empreendimentos S/A 29,652 33,700 (4,048) 2, % 2,974 (4,048) - 4,048 - Petrea Empreendimentos Imobiliários Ltda 1, , % - 1, ,680 Pietraporzio Empreendimentos Imobiliários Ltda 2, , % - 2, ,743 Piper Empreendimentos S/A 13,072 10,431 2, % 195 1, ,585 Piracanta Empreendimentos S/A 1, ,295 (136) 99.90% (139) 1, ,294 Piripiri Empreendimentos S/A % Plinia Empreendimentos Imobiliários Ltda 6,797-6, % 54 6, ,797 Plomeu Empreendimentos Imobiliários Ltda (7) (1) 99.90% (1) (7) Poejo Empreendimentos Imobiliários Ltda 1,771-1, % 34 1, ,769 Porto Paradiso Empreendimentos S/A % Porto Paradiso Incorporadora S/A 338 2,208 (1,869) 2, % 2,362 (1,869) - 1,869 - Pozuoli Empreendimentos Imobiliários Ltda - 4 (4) (1) 99.90% (1) (4) Praça Capital Negócios Imobiliários Ltda 2, ,915 (108) % (108) 2, ,915 Praça Paris Desenvolvimento Imobiliário S/A (215) (52) 99.90% (52) (215) Praça Paris Incorporadora S/A 234 5,098 (4,864) (591) % (591) (4,864) - 4,864 - Prelude Empreendimentos S/A 101,723 94,004 7,719 5, % 5,181 7, ,719 Pulchela Empreendimentos S/A 87 5,200 (5,114) 1, % 1,806 (5,109) - 5,109 - Purpurata Empreendimentos S/A 6,745-6, % 44 6, ,745 Quadra B-3 Incorporadora Ltda 100 4,423 (4,324) % 39 (4,319) - 4,319 - Quenopodio Empreendimentos S/A 16,474 13,402 3, % - 2, ,304 Quibor Empreendimentos Imobiliários Ltda 993 5,670 (4,677) (4,424) 99.90% (4,424) (4,672) - 4,672 - Ramizeri Empreendimentos Imobiliários Ltda 14,754 7,624 7,130 (38) 0.00% (30) Raniona Empreendimentos Imobiliários Ltda 38,549 41,133 (2,584) (1,231) 99.90% (1,232) (2,581) - 2,581 - RCI Consultoria de Imóveis Ltda 5, , % 476 4, ,685 Recreio Desenvolvimento Imobiliário Ltda 24,878 19,799 5,079 (8) % (8) 5, ,079 Recreio Empreendimentos Imobiliários Ltda 29,011 11,981 17, % 11 17, ,029 Rilstone Empreendimentos Imobiliários Ltda 1, ,633 (242) % (242) 1, ,633 Rimasco Empreendimentos Imobiliários Ltda - 4 (4) (1) 99.90% (1) (4) Risaralda Empreendimentos Imobiliários Ltda 16,557 7,833 8,723 (680) 99.90% (212) 8, ,715 Riservato Negócios Imobiliários Ltda 1, , % - 1, ,700 Rodolita Empreendimentos Imobiliários Ltda 79,756 83,048 (3,292) (2,733) 99.90% (3,292) (3,289) - 3,289 - Rosalba Empreendimentos Imobiliários Ltda 8, ,098 (8) % (8) 8, ,098 Rossi Consultoria de Imóveis Ltda 9,367 18,412 (9,044) (2,995) 99.99% (2,996) (9,043) - 9,043 - Rossi Indústria de Artefatos de Concreto Ltda 17,041 31,990 (14,949) (1,006) % (1,020) (14,949) - 14,949 - Rossi Montante Incorporadora S/A 38,070 43,426 (5,356) (1,227) 99.98% (1,025) (5,355) - 5,355 - Rossi Morumbi Incorporadora S/A 9,427 21,408 (11,981) % 7 (11,981) - 11,981 - Rossi Oscar Porto Incorporadora Ltda 107,157 86,153 21, % 15 21, ,004 Rossi S/A 1,135 1,636 (502) (8) % (8) (502) Rossi Securities Empreendimentos Imobiliários Ltda 7, ,297 (124) % (124) 7, ,297 Rossi Trust e Participações Ltda 5, ,102 5, % 5,962 5, ,102 Rossi Urbanizadora S/A 11,817 16,074 (4,258) (5,873) % (5,873) (4,258) - 4,258 - RRTI Desenvolvimento Imobiliário Ltda 17,312 3,705 13, % 7 13, ,607 Rubrum Empreendimentos Imobiliários Ltda 6,762 14,227 (7,465) (748) % (748) (7,465) - 7,465 - Rype SPE 3 - Empreendimentos Imobiliário Ltda 29,747 26,679 3, % 159 1, ,841 Sabanalarga Empreendimentos Imobiliários Ltda 3, , % 139 3, ,501

62 62 Assets Liabilities Shareholders Equity Dezembro-2016 Profit (Loss) for Interests the period % Equity in subsidiaries Investment Balance Advances for future capital increase Esquity deficiency transfer Subsidiaries (cont) Sambre Empreendimentos Imobiliários Ltda 15,415 7,724 7,692 (176) 99.90% (168) 7, Sampeire Empreendimentos Imobiliários Ltda - 4 (3) (1) 99.90% (1) (3) - 3 Sândalo Desenvolvimento Imobiliário Ltda 207,660 69, , % , Sândalo Empreendimentos Ltda ,807 (14,526) (535) % (535) (14,526) - 14,526 Sanderae Empreendimentos Imobiliários Ltda ,155 (31,725) % 103 (31,725) - 31,725 Sanquezia Empreendimentos Imobiliários Ltda 80,136 59,772 20, % 24 14, Santa Adelaida Empreendimentos Imobiliários Ltda 4,715 1,993 2, % 127 1, Santa Agia Empreendimentos Imobiliários Ltda 15,757 22,292 (6,535) (21) 99.90% (27) (6,529) - 6,529 Santa Alfreda Empreendimentos Imobiliários Ltda 6,073 1,722 4, % 129 4, Santa Alice Empreendimentos Imobiliários Ltda 1,466 1,673 (207) (74) 50.00% (37) (104) Santa Amanda Empreendimentos Imobiliários Ltda 35,222 55,439 (20,217) (10,732) 80.00% (8,586) (16,174) 13,175 2,999 Santa Apolonia Empreendimentos Imobiliários Ltda 44,979 16,274 28,705 (1,070) % (1,070) 28, Santa Aurelia Empreendimentos Imobiliários Ltda 30,284 27,456 2, % 294 1,697 1,354 - Santa Brenda Empreendimentos Imobiliários Ltda % Santa Camila Empreendimentos Imobiliários Ltda 24,102 23, % Santa Capitolina Empreendimentos Imobiliários Ltda 4,616 4, % Santa Caridade Empreendimentos Imobiliários Ltda 24,561 1,025 23, % , Santa Celestina Empreendimentos Imobiliários Ltda 38,389 83,392 (45,003) (902) 99.90% (943) (44,958) - 44,958 Santa Dionisia Empreendimentos Imobiliários Ltda 11,375 17,621 (6,246) 1, % 1,325 (6,240) - 6,240 Santa Doroteia Empreendimentos Imobiliários Ltda 402 (35) 437 (2) 99.90% (2) Santa Duna Empreendimentos Imobiliários Ltda 3,554 3, (1) 99.90% (1) Santa Edite Empreendimentos Imobiliários Ltda 409 5,516 (5,108) (1,220) 99.90% (1,224) (5,102) - 5,102 Santa Erasma Empreendimentos Imobiliários Ltda 5,021 4, % Santa Esperança Empreendimentos Imobiliários Ltda ,496 (14,231) (390) 99.90% (404) (14,217) - 14,217 Santa Estefania Empreendimentos Imobiliários Ltda (1,855) 3,432 (5,287) % 84 (5,282) - 5,282 Santa Eufrosina Empreendimentos Imobiliários Ltda 5,782 1,680 4, % 311 4, Santa Exuperia Empreendimentos Imobiliários Ltda 8,507 12,194 (3,687) (11,884) % (11,884) (3,687) - 3,687 Santa Flavia Empreendimentos Imobiliários Ltda 8,892 9,457 (564) % 13 (423) Santa Francisca Empreendimentos Imobiliários Ltda 11,974 11, (136) 75.00% (102) Santa Genoveva Empreendimentos Imobiliários Ltda 7,973 1,293 6, % 149 6, Santa Georgia Empreendimentos Imobiliários Ltda 1 6 (5) % 31 (5) - 5 Santa Gontilda Empreendimentos Imobiliários Ltda 2 9,165 (9,163) (22) 99.90% (31) (9,154) - 9,154 Santa Gundelina Empreendimentos Imobiliários Ltda % Santa Iza Empreendimentos Imobiliários Ltda 8, ,114 1, % 1,158 6, Santa Justina Empreendimentos Imobiliários Ltda 2,284 2,738 (454) (487) 99.90% (487) (454) Santa Manuela Empreendimentos Imobiliários Ltda 14,984 10,940 4,044 (8) % (8) 4, Santa Margarete Empreendimentos Imobiliários Ltda 22,203 6,455 15,748 (1,235) 99.90% (1,218) 15, Santa Marianela Empreendimentos Imobiliários S/A 65,493 65, (741) 90.00% (667) Santa Matilda Empreendimentos Imobiliários Ltda 28,826 19,424 9, % 9 9, Santa Maura Empreendimentos Imobiliários Ltda 29,924 30,719 (795) % 296 (696) Santa Melania Empreendimentos Imobiliários Ltda 21,370 30,800 (9,430) (620) % (620) (9,430) - 9,430 Santa Mena Empreendimentos Imobiliários Ltda % Santa Narcisa Empreendimentos Imobiliários Ltda 15,170 8,295 6, % 23 6, Santa Natalia Empreendimentos Imobiliários Ltda 9, ,008 (103) 99.90% (94) 8, Santa Nina Empreendimentos Imobiliários Ltda 9,170 11,835 (2,665) % 34 (2,663) - 2,663 Santa Noemia Empreendimentos Imobiliários Ltda 7,943 21,692 (13,749) (1,498) % (1,498) (13,749) - 13,749 Santa Odete Empreendimentos Imobiliários Ltda 3, , % 62 3, Santa Odilia Empreendimentos Imobiliários Ltda 1,930-1, % 82 1, Santa Olga Empreendimentos Imobiliários Ltda 29,659 18,085 11, % , Santa Otavia Empreendimentos Imobiliários Ltda 1,725-1, % 304 1, Santa Paloma Empreendimentos Imobiliários Ltda 1, , % 7 1, Santa Patrícia Empreendimentos Imobiliários Ltda ,850 (10,746) % 593 (10,746) - 10,746 Santa Quilonia Participações e Empreendimentos Ltda (19) (1) 99.90% (1) (19) - 19 Santa Quitéria Empreendimentos Imobiliários Ltda % Santa Rafaela Empreendimentos Imobiliários Ltda (42) 5,673 (5,715) (3,750) 99.90% (3,752) (5,709) - 5,709 Santa Rebeca Empreendimentos Imobiliários Ltda % Santa Ruth Empreendimentos Imobiliários Ltda 20,709 8,819 11, % 48 11, Santa Sabina Empreendimentos Imobiliários Ltda 40,245 39, (313) % (313) Santa Susana Empreendimentos Imobiliários S/A 47,062 84,305 (37,243) (481) 99.90% (518) (37,206) - 37,206 Santa Taciana Empreendimentos Imobiliários Ltda 7,958 7, % Santa Tarcila Empreendimentos Imobiliários Ltda 3,391 1,305 2,087 (1,781) 99.90% (1,779) 2, Santa Teodata Empreendimentos Imobiliários Ltda 57,082 76,636 (19,554) (3,133) % (3,133) (19,554) - 19,554 Santa Veronica Empreendimentos Imobiliários Ltda % Santa Zenaide Empreendimentos Imobiliários Ltda 33,505 13,844 19,661 (78) 99.90% (58) 19, Santa Zenobia Empreendimentos Imobiliários Ltda 4, , % 610 4, Santa Zita Empreendimentos Imobiliários Ltda - 5,398 (5,398) % 34 (5,392) - 5,392 Santa Priscila Empreendimentos Imobiliários Ltda 8, , % 489 8, Santo Anastacio Empreendimentos Imobiliários S/A 12,525 40,559 (28,034) (2,149) 99.90% (2,175) (28,006) - 28,006 Santo Angelo Empreendimentos Imobiliários Ltda 14,180 12,284 1, % 111 1, Santo Antão Empreendimentos Imobiliários Ltda 9,835 10,552 (717) (435) 99.90% (436) (716) - 716

63 63 Assets Liabilities Shareholders Equity Dezembro-2016 Profit (Loss) for Interests the period % Equity in subsidiaries Investment Balance Advances for future capital increase Esquity deficiency transfer total Subsidiaries (cont) Santo Eduardo Empreendimentos Imobiliários Ltda 26,969 38,369 (11,400) 1, % 1,251 (11,389) - 11,389 - Santo Elias Empreendimentos Imobiliários Ltda 9,668 10,852 (1,185) (892) 99.90% (892) (1,183) - 1,183 - Santo Erasmo Empreendimentos Imobiliários Ltda 114, ,363 (6,959) (5,759) 99.90% (5,761) (6,952) - 6,952 - Santo Estanislau Empreendimentos Imobiliários Ltda 64,634 76,877 (12,243) (948) % (948) (12,243) - 12,243 - Santo Estevão Empreendimentos Imobiliários Ltda 5,737 2,939 2, % 411 2, ,796 Santo Eugenio Empreendimentos Imobiliários Ltda 6,320 4,967 1,353 (5) 99.90% 2,391 1, ,352 Santo Eusebio Empreendimentos Imobiliários Ltda 70 2,665 (2,595) % 946 (2,592) - 2,592 - Santo Evaristo Empreendimentos Imobiliários Ltda 66, ,135 (43,391) (13,398) % (13,398) (43,391) - 43,391 - Santo Expedito Empreendimentos Imobiliários S/A ,895 (22,709) 3, % 3,643 (22,709) - 22,709 - Santo Herculano Empreendimentos Imobiliários Ltda % Santo Humberto Empreendimentos Imobiliários Ltda 42,197 6,182 36,015 1, % 1,964 35, ,979 Santo Inacio Empreendimentos Imobiliários Ltda 12,635 11, (520) 99.90% (518) Santo Irineu Empreendimentos Imobiliários Ltda 14,573 6,350 8, % 81 7, ,195 Santo Lorenzo Empreendimentos Imobiliários Ltda 8,584 (32) 8,616 (597) % (597) 8, ,616 Santo Uriel Empreendimentos Imobiliários Ltda 29,851 39,877 (10,026) (4,069) 99.90% (4,075) (10,016) - 10,016 - São Beltran Empreendimentos Imobiliários Ltda 137 4,151 (4,014) % 99 (4,010) - 4,010 - São Benildo Empreendimentos Imobiliários Ltda 89 1,733 (1,644) (48) 99.90% (49) (1,643) - 1,643 - São Bertino Empreendimentos Imobiliários Ltda 10,621 19,714 (9,093) % 740 (9,084) - 9,084 - São Bessario Empreendimentos Imobiliários Ltda (267) % 176 (267) São Braulio Empreendimentos Imobiliários Ltda 19,766 13,733 6, % 81 6, ,027 São Bruno Empreendimentos Imobiliários Ltda 1-1 (40) 99.90% (38) São Caemon Empreendimentos Imobiliários Ltda 6,415 7,746 (1,331) (238) 99.90% (238) (1,329) - 1,329 - São Celestino Empreendimentos Imobiliários Ltda (36) % 478 (35) São Cesario Empreendimentos Imobiliários Ltda 21,567 28,689 (7,122) (1,069) 99.90% (1,075) (7,115) - 7,115 - São Cornelio Empreendimentos Imobiliários Ltda 17,346 1,772 15,574 7, % 7,025 15, ,574 São Crisanto Empreendimentos Imobiliários Ltda 13,638 21,629 (7,991) (687) 99.90% (694) (7,983) - 7,983 - São Crispim Empreendimentos Imobiliários Ltda 56,297 23,130 33,167 (378) % (378) 33, ,167 São Crispiniano Empreendimentos Imobiliários Ltda 112, ,737 (34,344) (3,377) 99.90% (3,408) (34,309) - 34,309 - São Desiderio Empreendimentos Imobiliários Ltda % São Dionisio Empreendimentos Imobiliários Ltda 22,648 24,594 (1,946) (113) 99.90% (114) (1,944) - 1,944 - São Geraldo Empreendimentos Imobiliarios Ltda 1,494-1,494 (44) 99.90% (34) 1, ,492 São Gerôncio Empreendimentos Imobiliários Ltda 7,727 2,552 5,175 (40) 70.00% (28) 3, ,622 São Gonzalo Empreendimentos Imobiliários Ltda 10,963 16,749 (5,786) (1,919) 70.00% (1,343) (4,050) - 4,050 - São Loureano Empreendimentos Imobiliários Ltda 4,018 8,760 (4,742) (4,256) 99.90% (4,256) (4,738) - 4,738 - São Mamede Empreendimentos Imobiliários Ltda - 43 (43) % - (43) São Mancio Empreendimentos Imobiliários Ltda 43,709 82,596 (38,887) (5,681) 99.90% (5,714) (38,848) - 38,848 - São Marçal Empreendimentos Imobiliários Ltda % São Marcelino Empreendimentos Imobiliários Ltda 13,426 13,445 (19) % 51 (19) São Mario Empreendimentos Imobiliários Ltda % São Martim Empreendimentos Imobiliários Ltda 68, ,870 (36,483) (960) % (960) (36,483) - 36,483 - São Mauricio Empreendimentos Imobiliários Ltda 5,315 58,040 (52,726) (7,099) 99.90% (7,145) (52,673) - 52,673 - São Maurilio Empreendimentos Imobiliários Ltda - 18 (17) (158) 99.90% (143) (17) São Mucio Empreendimentos Imobiliários Ltda 34 1,760 (1,726) % 479 (1,724) - 1,724 - São Nicodemus Empreendimentos Imobiliários Ltda 3, , % 261 2, ,857 São Procopio Empreendimentos Imobiliários Ltda 80 7,223 (7,143) 2, % 2,112 (7,136) - 7,136 - São Quirino Empreendimentos Imobiliários Ltda 1,026 1,549 (522) (7) 99.90% (7) (522) São Remigio Empreendimentos Imobiliários Ltda 9,003 6,182 2, % 125 2, ,818 São Ricardo Empreendimentos Imobiliários Ltda % São Severino Empreendimentos Imobiliários Ltda 6,942 4,271 2, % 18 2, ,136 São Silvestre Empreendimentos Imobiliários Ltda % São Teodorico Empreendimentos Imobiliários Ltda 2,010 16,040 (14,030) (560) 99.90% (573) (14,016) - 14,016 - São Teofilo Empreendimentos Imobiliários Ltda 8,257 2,453 5,804 (230) 99.90% (224) 5, ,798 São Norberto Empreendimentos Imobiliários Ltda 4,113 4,122 (9) % - (9) São Prudencio Empreendimentos Imobiliários Ltda % Saponaria Empreendimentos S/A - 10 (10) (2) 99.90% (2) (10) Sarapo Empreendimentos Imobiliários Ltda 6,509 9,479 (2,970) (44) 99.90% (44) (2,967) - 2,967 - Saratoga Empreendimentos Imobiliários Ltda 28,633 25,527 3,106 (154) % (154) 3, ,106 Sarita Empreendimentos Imobiliários Ltda 111 1,584 (1,473) 1, % 1,560 (1,471) - 1,471 - SCP Alegro - Araucaia Empreend. 1, (1) 0.00% SCP Celebrete - Celebrete Empreend. 181, ,272 40,609 1, % 1,211 20,305 23,965-44,270 SCP Cotegipe - Araucaia Empreend. 30,516-30,516 (1) 0.00% SCP Fabrice 7,967 3,775 4,191 (38) 0.00% (22) Sempreflores Empreendimentos Imobiliários Ltda 2,941 4,704 (1,763) (2) 99.90% (3) (1,762) - 1,762 - Senecio Empreendimentos Imobiliários Ltda 7,467-7,467 (142) % (142) 7, ,467 Shuarbe Empreendimentos Imobiliários Ltda % Shuarbe Incorporações de Empreendimentos Imobiliários Ltda 5 12 (7) % - (7) Sibipuruna Empreendimentos Imobiliários Ltda 8-8 (238) 99.99% (237) Sinuatum Empreendimentos Imobiliários Ltda 27,790 53,974 (26,184) (5,269) 99.90% (5,290) (26,157) - 26,157 - Sisiano Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Sogamoso Empreendimentos Imobiliários Ltda 6, , % 350 5, ,661

64 64 Assets Liabilities Shareholders Equity Dezembro-2016 Profit (Loss) for Interests the period % Equity in subsidiaries Investment Balance Advances for future capital increase Esquity deficiency transfer total Subsidiaries (cont) SPE Alto da Boa Vista Empreendimentos Imobiliários T Ltda 34,842 13,408 21,434 1, % , ,412 SPE Condomínio Jardins da França Ltda 32,720 5,366 27, % , ,327 SPE Condomínio Recanto das Árvores Ltda 44,160 52,563 (8,403) (1,024) 99.90% (569) (8,395) - 8,395 - SPE Condomínio Vila Das Artes Ltda 39,501 42,554 (3,054) (1,697) 99.90% (1,146) (3,051) - 3,051 - SPE Parque Sementeiras Empreendimentos Imobiliários T Ltda 82, ,565 (24,591) (9,542) 99.90% (7,531) (24,567) - 24,567 - SPE Pier Empreendimentos Imobiliários Ltda 32,023 4,713 27,310 (1,414) % (1,414) 27, ,310 Tacarigua Empreendimentos Imobiliários Ltda (5) (1) 99.90% (1) (5) Tadorna Empreendimentos Imobiliários Ltda 33,384 17,145 16,239 1, % 1,518 16, ,223 Tainacam Empreendimentos Imobiliários Ltda 8,107 9,801 (1,694) (50) 99.90% (51) (1,693) - 1,693 - Talauma Empreendimentos S/A 2,560 2, % Tanais Empreendimentos Imobiliários Ltda 13,480 13,751 (271) (1) 99.90% (1) (270) Tauranga Empreendimentos Imobiliários Ltda 75,148 83,511 (8,362) 2, % 2,101 (8,354) - 8,354 - Temiscira Empreendimentos Imobiliários Ltda 10,100 3,770 6, % 83 3, ,165 Tenela Empreendimentos S/A 8,645-8,645 (709) % (709) 8, ,645 Tessalia Empreendimentos Imobiliários Ltda 28,258 40,582 (12,324) 2, % 2,807 (12,312) - 12,312 - Teutrania Empreendimentos Imobiliários Ltda 45,633 44,023 1,610 2, % 2,045 1, ,608 Tieze Empreendimentos Imobiliários Ltda - 3 (3) (1) 99.90% (1) (3) Tindaro Empreendimentos Imobiliários Ltda 10,385 7,978 2,407 (8) 99.90% (6) 2, ,404 Toctao-Rossi Empreendimentos Imobiliários S/A 2-2 (62) 99.90% (62) Trevoro Empreendimentos Imobiliários Ltda 2,812 2,817 (5) (1) 99.90% (1) (5) Troade Empreendimentos Imobiliários Ltda 18,374 14,889 3,486 (64) % (64) 3, ,486 Trombeta Empreendimentos Imobiliários Ltda 88,836 67,835 21,002 9, % 9,649 21, ,002 Tulipa Incorporadora Ltda 46,025 63,705 (17,680) (1,793) % (1,793) (17,680) - 17,680 - Tunico Empreendimentos Imobiliários Ltda 2,388 10,871 (8,483) (161) 99.90% (169) (8,475) - 8,475 - Uliginosa Empreendimentos Imobiliários Ltda - 4 (4) (90) 99.90% (77) (4) Uribia Empreendimentos Imobiliários Ltda 7,655 6, % Valpeline Empreendimentos Imobiliários Ltda - 3 (3) (1) 99.90% (1) (3) Vardaman Empreendimentos Imobiliários Ltda % Vicença Empreendimentos Imobiliários Ltda 18,048 22,037 (3,989) (800) 50.00% (400) (1,995) - 1,995 - Vigo Empreendimentos S/A 9,674 2,589 7,085 (275) % (275) 7, ,085 Vila Albani Empreendimentos Imobiliários Ltda 7,117-7, % 120 7, ,117 Vila Flora Hortolândia Empreendimentos Imobiliários Ltda 152, ,852 49,736 9, % 9,835 49, ,736 Vinadio Empreendimentos Imobiliários Ltda 20,243 19,243 1, % Viterbo Empreendimentos Imobiliários Ltda 56,973 59,523 (2,550) (2,720) 99.90% (2,720) (2,547) - 2,547 - Vitis Empreendimentos S/A 59,075 62,222 (3,147) % 125 (3,144) - 3,144 - Zaculeu Empreendimentos Imobiliários Ltda 19,277 17,313 1,963 (139) 99.90% (141) 1, ,962 Zadoque Empreendimentos Imobiliários Ltda 35,510 39,419 (3,910) (4,760) 90.00% (4,284) (3,519) - 3,519 - Zuquini Empreendimentos S/A % Others (38,011) (11,065) (489) (11,554) Subtotal Subsidiaries 9,988,933 9,473, ,106 (134,973) (156,750) 398,526 45,704 1,680,205 2,124,436

65 65 Assets Liabilities Shareholders Equity Dezembro-2016 Profit (Loss) for Interests the period % Equity in subsidiaries Investment Balance Advances for future capital increase Esquity deficiency transfer total Non-Subsidiaries Santo Egidio Empreendimentos Imobiliários Ltda 23,262 36,014 (12,752) (1,073) 50.00% (536) (6,376) - 6,376 - Santo Eliseu Empreendimentos Imobiliários Ltda 10, ,906 (8) 50.00% (4) 4, ,953 Santo Ildefonso Empreendimentos Imobiliários Ltda. 68,856 76,018 (7,162) (1,452) 0.10% (1) (7) Santo Indalecio Empreendimentos Imobiliários Ltda 9,889 2,650 7, % Santo Isidro Empreendimentos Imobiliários Ltda - 65 (65) % - (42) Santo Orlando Empreendimentos Imobiliários Ltda 13,508 3,500 10,008 (14) 70.00% (10) 7, ,005 São Basilio Empreendimentos Imobiliários Ltda 18,724 21,599 (2,875) % 676 (2,013) - 2,013 - São Boris Empreendimentos Imobiliários Ltda - 12 (12) % - (8) São Constantino Empreendimentos Imobiliários Ltda 45,958 56,255 (10,297) % - (10) São Daniel Empreendimentos Imobiliarios Ltda 77, ,363 (22,747) (12,283) 0.10% (7) (23) São Felix Empreendimentos Imobiliários Ltda 54,768 15,892 38,876 1, % , ,382 São Fiacre Empreendimentos Imobiliários Ltda. 37,966 40,085 (2,119) (428) 0.10% - (2) São Fidelis Empreendimentos Imobiliários Ltda 57,249 71,901 (14,653) (8,872) 50.00% (4,436) (7,326) 13,121-5,795 São Hipolito Empreendimentos Imobiliários Ltda 57,269 68,188 (10,920) (989) 10.00% (99) (1,092) - 1,092 - São Leopoldo Empreendimentos Imobiliários Ltda 19,590 3,800 15, % 3 1, ,579 São Raimundo Empreendimentos Imobiliários Ltda 52,741 52, , % São Ramiro Empreendimentos Imobiliários Ltda 14, ,683 1, % 676 6, ,842 São Sinfronio Empreendimentos Imobiliários Ltda. 35,433 1,285 34,148 13, % São Teobaldo Empreendimentos Imobiliários Ltda 41,994 16,784 25, % , ,689 São Tranquilino Empreendimentos Imobiliários Ltda 45,669 48,381 (2,712) % 13 (1,085) - 1,085 - Sarpedon Empreendimentos Imobiliários Ltda 3,680 3, (3) 0.00% Sarre Empreendimentos Imobiliários Ltda 79,994 89,715 (9,721) (791) 0.00% Seina Empreendimentos Imobiliários Ltda 19,303 21,764 (2,461) (1,092) 50.00% (546) (1,231) - 1,231 - Simois Empreendimentos Imobiliários Ltda 51,924 49,122 2,801 3, % Soacha Empreendimentos Imobiliários Ltda 1,855 2,132 (278) (514) 0.01% SPE Accordes do Horto Empreendimentos Imobiliários T Ltda. 1,728 1, % SPE Accordes Jabotiana Empreendimentos Imobiliários T Ltda. 23,884 1,479 22,405 1, % SPE Accordes Universita Empreendimentos Imobiliários T Ltda. 30,191 1,102 29,089 (885) 0.00% SPE Arqui Farolândia Empreendimentos Imobiliários T. Ltda (2) 0.00% SPE Brisas Do Alto Empreendimentos Imobiliários T Ltda (1) 0.00% SPE Caminho das Árvores Empreendimentos Imobiliários T Ltda. 3, ,207 (1) 0.00% SPE Centro Saúde J.M.S. Ltda. 7, ,663 (223) 0.00% SPE Condomínio Boulevard Gustavo Dantas Ltda 21,706 9,348 12,358 (1) 0.00% SPE Estações Um Empreendimentos Imobiliários T Ltda. 4, , % SPE Juca Sampaio Empreendimentos Imobiliários T Ltda (7) 0.00% SPE Norcon Rossi Empreendimentos Imobiliários T Ltda (1) 0.00% SPE Quadra Cinco Empreendimentos Imobiliários T Ltda. 33,281 1,300 31,981 (2,024) 0.00% SPE Quadra Dois Empreendimentos Imobiliários T Ltda. 6, ,323 (3) 0.00% SPE Quadra Seis Primeiro Empreendimentos Imobiliários T Ltda. 3,469 2,185 1,285 (4) 0.00% SPE Quadra Três Empreendimentos Imobiliários T Ltda. 1, ,503 (1) 0.00% SPE Sancho Lote Cinco Empreendimentos Imobiliários T Ltda. 1,816 1, (2) 0.00% SPE Sancho Lote Dois Empreendimentos Imobiliários T Ltda (1) 0.00% SPE Sementeiras Empreendimentos Imobiliários T Ltda. 12, , % SPE Sítio Bacupari Empreendimentos Imobiliários T Ltda. 3,133 1,356 1,777 (12) 0.00% SPE Spazio Bello Empreendimentos Imobiliários T Ltda (59) 0.00% SPE Vilas Da Aruana Empreendimentos Imobiliários T Ltda. 14, ,422 (1) 0.00% Talassa Empreendimentos Imobiliários Ltda 9, , % 321 5, ,910 Tapiriri Empreendimentos S/A 35,838 37,119 (1,281) (28) 50.00% (14) (641) Termesso Empreendimentos Imobiliários Ltda 23,728 6,582 17,146 2, % Tiberino Empreendimentos Imobiliários Ltda 131 2,371 (2,240) % - (2) Tibouchina Empreendimentos S/A 637 1,762 (1,125) % 12 (563) Tintoria Empreendimentos S/A - 26 (26) % - (6) Tucupita Empreendimentos Imobiliários Ltda 33,160 33,805 (646) (8) 0.10% - (1) Tumbergia Empreendimentos S/A 22, , % 12 10, ,962 Turmero Empreendimentos Imobiliários Ltda 7, ,588 (1) 0.00% Velberte Empreendimentos Imobiliários Ltda 51,986 46,129 5,857 (2,620) 0.00% Vendeia Empreendimentos Imobiliários Ltda 27,923 12,960 14, % Visnaga Empreendimentos S/A 18,966 14,405 4, % 24 2, ,053 Zaraza Empreendimentos Imobiliários Ltda 48,876 45,754 3,122 4, % Excess of the book value purchase 119, ,888 capitalized charge 47,540 47,540 Others 7,297 (2,046) 31 1,900 (116) Subtotal Non-Subsidiaries 7,946,546 6,968, ,262 (74,541) (26,466) 544, , ,527 1,259,526 Unconsolidated Companies Bom Sucesso Incorporação e Investimentos Imobiliários S/A. 27,819 3,293 24,525 (1) 26.00% - 6, ,407 Others (70,949) - - (70,949) Subtotal Non-Subsidiaries 7,875,979 3,293 24,525 (1) - (64,572) 31 - (64,542) Total Consolidated 15,822,525 6,971,567 1,002,787 (74,542) (26,466) 479, , ,527 1,194,984

66 66 Exhibit I (sic) Summary of the main information on investments as at September 30, 2016: Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Subsidiaries Abadir Empreendimentos Imobiliários Ltda 113, ,089 (19,283) (6,986) 99.90% (6,979) (19,263) - 19,263 - Abeguar Empreendimentos Imobiliários Ltda 59,570 54,212 5,358 3, % Abrotano Empreendimentos Imobiliários Ltda 1 15 (14) % - (14) Absirto Empreendimentos Imobiliários Ltda 6,965 3,215 3, % 977 3, ,747 Açafate Empreendimento S/A 32,598 17,500 15, % 2 15, ,099 Acalifa Empreendimentos S/A 9,973 12,030 (2,057) (632) % (632) (2,057) - 2,057 - Acauã Investimentos Imobiliários Ltda 11, , % 56 7, ,746 Acer Participações S/A 20,065 25,823 (5,758) (1,174) 99.90% (1,172) (5,752) - 5,752 - Adiantum Empreendimentos Imobiliários Ltda 18,523 17,084 1,438 (55) 99.90% (55) 1, ,437 Afelandra Empreendimentos S/A 15,406 17,038 (1,633) % 585 (1,225) - 1,225 - Afragola Empreendimentos Imobiliários Ltda - 3 (2) % - (2) Agerato Empreendimentos S/A 38,213 40,865 (2,651) % 134 (2,649) - 2,649 - Aglaonema Empreendimentos S/A 25,453 17,418 8, % 95 8, ,027 Agraecum Empreendimentos S/A 10,289 3,182 7,107 (64) 99.90% (63) 7, ,100 Aisne Empreendimentos Imobiliários Ltda 31,339 25,775 5,564 (3,061) 0.00% Alcea Empreendimentos Imobiliários Ltda 276,197 63, ,205 (3,582) % (3,582) 212, ,205 Alcines Empreendimentos Imobiliarios Ltda 1,996-1, % - 1, ,994 Aldrovandi Empreendimentos Imobiliários Ltda 3,671 1,344 2,327 1, % 1,308 2, ,325 Alocasia Empreendimentos S/A 31,537 48,450 (16,913) (151) 99.90% (151) (16,897) - 16,897 - Alpen Haus Desenvolvimento Imobiliário S/A 10,035 9, % Alpen Haus Negócios Imobiliários S/A 13,737 12,722 1,016 (1,122) 70.00% (786) Alpínia Desenvolvimento Imobiliário Ltda 41,897 12,125 29, % , ,772 Alquemila Empreendimentos Imobiliários Ltda 13,807 4,620 9, % 4 9, ,187 Alteia Empreendimentos Imobiliários Ltda 26,929 2,864 24,065 (699) % (699) 24, ,065 Alternantera Empreendimentos Imobiliários Ltda 98,825 55,855 42,970 (1,737) % (1,737) 42, ,970 Ambassador Empreendimentos S/A % América Piqueri Incorporadora S/A 5,493 4, % América Properties Ltda 46,437 43,115 3,321 (2,194) % (2,221) 3, ,321 América Urbanismo S/A 1,080 1,564 (483) % Amniso Empreendimentos Imobiliários Ltda 3, ,233 (3) 99.90% (8) 3, ,230 Anabi Empreendimentos Imobiliários Ltda 39,817 33,861 5,956 2, % Anadia Empreendimentos Imobiliários Ltda (204) % - (204) Anagalide Empreendimentos S/A 23,638 54,461 (30,823) (4,760) 99.90% (4,755) (30,792) 7,210 23,582 - Anapo Empreendimentos Imobiliários Ltda 13,554 6,392 7, % 61 7, ,156 Ancusa Empreendimentos Imobiliários Ltda 22,597 10,373 12,224 (19) % (19) 12, ,224 Aniene Empreendimentos Imobiliários Ltda 9,141 4,270 4, % 52 4, ,866 Anigro Empreendimentos Imobiliários Ltda 21,946 1,226 20,720 8, % 4,968 20, ,720 Anloga Empreendimentos Imobiliários Ltda 10,533 3,603 6,931 (419) 70.00% (294) 4, ,852 Anteros Empreendimentos Imobiliários Ltda 10,426 9, (1,559) 99.90% (1,557) Antocleista Empreendimentos S/A 3,492 3, % Apetenia Empreendimentos Imobiliários Ltda % Apidano Empreendimentos Imobiliários Ltda 137, ,115 (14,626) (5,401) 99.90% (5,396) (14,611) - 14,611 - Apuléia Empreendimentos Imobiliários Ltda 29,924 40,316 (10,392) (1,562) % (1,562) (10,392) - 10,392 - Araticum Empreendimentos Imobiliários Ltda 14,042 11,998 2, % 3 2, ,042 Araucaia Empreendimentos Imobiliários Ltda 35,963 4,644 31, % , ,319 Araure Empreendimentos Imobiliários Ltda 55,140 58,364 (3,224) (2,311) 99.90% (2,309) (3,221) - 3,221 - Argentea Empreendimentos S/A 202, ,316 (31,179) (194) 99.90% (194) (31,148) - 31,148 - Aridarum Empreendimentos S/A 18,051 13,192 4, % 10 4, ,854 Aristasia Empreendimentos Imobiliários Ltda (31) % (31) Aristata Empreendimentos S/A 21,705 8,875 12,830 (11) 99.93% (11) 12, ,820 Arkansas Empreendimentos Imobiliários Ltda 12,509 2,863 9, % 209 9, ,646 Arquitotis Empreendimentos Imobiliários Ltda 37,768 14,839 22,929 (1) % (1) 22, ,929 Artocarpus Empreendimentos Imobiliários Ltda 25,122 10,003 15, % 21 15, ,105 Arundina Empreendimentos Imobiliários Ltda 1,414 1, % Asopo Empreendimentos Imobiliários Ltda 8,928 2,739 6,189 (230) 65.00% (150) 4, ,023 Assessoria Técnica, Imobiliária e Participações Ltda (1) 99.90% (1) Asterion Empreendimentos Imobiliários Ltda 11,962 11, % Astir Assessoria Técnica Imobiliária e Participações Ltda 4,964 62,441 (57,477) (6,984) 99.90% (6,977) (57,420) - 57,420 - Atenor Empreendimentos Imobiliários Ltda ,568 (18,997) (2,131) 99.90% (2,129) (18,978) - 18,978 - Atmosfera Desenvolvimento Imobiliário S/A 1, (53) 0.00% Atmosfera Empreendimentos S/A 2, ,965 (47) 0.00% Atromeia Empreendimentos S/A 57,196 29,976 27, % , ,193 Auriculata Empreendimentos S/A 5,405 10,491 (5,086) % 378 (5,081) - 5,081 - Autentic Desenvolvimento Imobiliário S/A 4,756 3,167 1,589 (1) 99.98% - 1, ,589 Autentic Empreendimentos S/A 5,885 5, % Aven Empreendimentos Imobiliários Ltda 126, ,092 (15,868) (2,176) 99.90% (2,173) (15,853) - 15,853 - Bafira Empreendimentos Imobiliários Ltda 23,285 32,228 (8,943) (4,693) 65.00% (3,050) (5,813) - 5,813 - Barão de Café Empreendimentos Imob. S/A 1, ,082 (2) 50.00% (1) Barão do Café Incorporadora S/A 3,491 1,548 1, % Bazagueda Empreendimentos Imobiliários Ltda 23,847 23,877 (30) (5) 99.90% (5) (30)

67 67 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Subsidiaries (cont) Diomen Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Dions Empreendimentos Imobiliários Ltda 1 5 (4) % - (4) Dipladênia Empreendimentos Imobiliários Ltda 39,670 34,995 4,675 (6) 50.00% (3) 2, ,338 Dirito Empreendimentos Imobiliários Ltda 4,014 2,566 1,447 (1) % (1) 1, ,447 Dorinda Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Doubs Empreendimentos Imobiliários Ltda 12,768 1,233 11,536 (199) 99.90% (198) 11, ,524 Dranci Empreendimentos Imobiliários Ltda 88, ,526 (15,279) (5,122) 70.00% (3,585) (10,695) - 10,695 - Driope Empreendimentos Imobiliários Ltda 48,941 59,123 (10,182) (4,879) 99.90% (4,874) (10,172) - 10,172 - Dueto Desenv. Imobiliário Ltda % Dueto Negócios Imobiliários S/A - 20 (20) (320) 99.90% (320) (20) Dunedine Empreendimentos Imobiliários Ltda 27,284 27,871 (587) (298) 99.90% (297) (586) Eitorfe Empreendimentos Imobiliários Ltda 40,991 38,586 2,404 (2,172) 99.90% (2,170) 2, ,402 Elida Empreendimentos Imobiliários Ltda 36,066 30,082 5,984 (588) % (588) 5, ,984 Empreendimento Imobiliário Jaguaré SPE Ltda 62,584 45,925 16,659 (5,912) % (5,912) 16, ,659 Entradero Empreendimentos Imobiliários Ltda (6) (1) 99.90% (1) (6) Equinacia Empreendimentos S/A 24,359 29,697 (5,338) (162) % (162) (5,338) - 5,338 - Ercilio Empreendimentos Imobiliários Ltda (5) (1) 99.90% (1) (5) Erimanto Empreendimentos Imobiliários Ltda 16,719 26,760 (10,041) (569) 70.00% (398) (7,029) - 7,029 - Erinus Empreendimentos S/A 8,024 16,531 (8,507) (17) 99.90% (1,706) (8,499) - 8,499 - Escabiosa Empreendimentos S/A 47,623 45,852 1,771 (367) 99.90% (367) 1, ,769 Escalda Empreendimentos Imobiliários Ltda 25,853 45,604 (19,751) (7,201) 99.90% (7,194) (19,731) - 19,731 - Esculenta Empreendimentos Imobiliários Ltda 15,372 9,393 5,979 (1) 99.90% (1) 5, ,973 Estense Empreendimentos Imobiliários Ltda - 3 (2) % - (2) Estramoio Empreendimentos S/A 28,743 20,398 8, % 6 8, ,346 Estrumosa Empreendimentos S/A 12,731 12, (28) 99.90% (28) Eternity Empreendimentos Imob. S/A % Etolia Empreendimentos Imobiliários Ltda 154, ,648 4,836 8, % 8,356 4, ,831 Euforbia Empreendimentos S/A 12,689 13,412 (722) (336) 99.90% (335) (722) Euriabe Empreendimentos S/A 32,433 23,804 8,629 1, % 1,591 8, ,620 Eustoma Empreendimentos S/A 19,508 19,755 (246) (45) 99.90% (45) (246) Evre Empreendimentos Imobiliários Ltda 3, , % 3 3, ,884 Fabrice Empreendimentos Imobiliários Ltda 6,383 2,837 3,546 (31) 99.90% (31) 3, ,543 Falcatus Empreendimentos S/A 13,870 4,508 9, % 1,882 9, ,352 Faon Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Fasciata Empreendimentos Imobiliários Ltda 14,735 3,430 11,305 (1) % (1) 11, ,305 Finab Financiamento 2, , % Florença Participações S/A 61,601 18,604 42, % , ,955 Frigia Empreendimentos Imobiliários Ltda 1, ,333 (31) 99.90% (31) 1, ,331 Furano Empreendimentos Imobiliários Ltda 7,894 2,310 5,584 3, % 3,748 5, ,584 Galeria Boulevard Desenvolvimento Imobiliário S/A 4, ,462 (5) 50.00% (3) 1, ,731 Galeria Boulevard Negócios Imobiliários S/A 14,199 2,326 11, % 2 5, ,937 Galeso Empreendimentos Imobiliários Ltda 21,793 22,130 (337) (28) 99.90% (28) (336) Ganges Empreendimentos Imobiliários Ltda 1,250 1,356 (105) (3) 99.90% (3) (105) Garden Up Desenvolvimento Imobiliário Ltda 6,875 5,800 1, % Garden Up Negócios Imobiliários S/A 8,600 8,685 (85) % 16 (43) Gardênia Participações S/A 2,514 2, % Gazania Empreendimentos Imobiliários Ltda 94,075 65,502 28, % , ,573 General Rondon Incorporadora Ltda 8,203 7, (427) 50.00% (214) Gerbreras Empreendimentos S/A (243) (1) 99.90% (1) (242) Gestia Empreendimentos S/A 27,589 26,275 1, % 25 1, ,314 Giardino Desenvolvimento Imobiliário S/A % Giardino Empreendimentos Imobiliários S/A 13 (61) 74 (4) 50.00% (2) Girassol Incorporadora Ltda 4,277 1,329 2, % - 2, ,948 Glicínia Desenvolvimento Imobiliário Ltda 3,423 1,186 2, % 9 2, ,237 Glinde Empreendimentos Imobiliários Ltda 78,435 87,743 (9,308) (100) 99.90% (100) (9,299) - 9,299 - Gmelina Empreendimentos Imob.Ltda % Gonfrena Empreendimentos Imobiliários Ltda 270, , (3,674) % (3,674) Grandiflora Empreendimentos Imobiliários Ltda 19,807 20,714 (907) (120) 99.90% (120) (906) Guaraná Empreendimentos S/A 6 96 (90) (67) % (67) (90) Helicônias Desenvolvimento Imobiliário Ltda 1,434 (58) 1, % 17 1, ,492 Hibisco Incorporadora Ltda 6,509 6, % Hirtela Empreendimentos Imobiliários Ltda 25,688 3,488 22,200 (116) % (116) 22, ,200 HOUSING BARÃO DO CAFÉ 1, (128) 0.10% Iberidifolia Empreendimentos Imobiliários Ltda 63,100 37,028 26,073 (117) % (117) 26, ,073 Ibero Empreendimentos Imobiliários Ltda 13,597 9,333 4,264 2, % 2,469 4, ,259 Ibicela Empreendimentos S/A 1,234 2,561 (1,327) (1) 24.26% - (322) Iguatemi Porto Alegre Desenvolvimento Imobiliário Ltda 12,910 6,382 6, % 10 6, ,528 Imbrasco Empreendimentos Imobiliários Ltda 68,984 71,711 (2,727) (1,198) 99.90% (1,197) (2,725) - 2,725 - Impatiens Empreendimentos Imobiliários Ltda 19,269 8,472 10,797 4, % 4,237 10, ,787 Indre Empreendimentos Imobiliários Ltda 26,003 26,177 (174) (260) 80.00% (208) (139)

68 68 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Subsidiaries (cont) Ipomoea Empreendimentos Imobiliários Ltda 35,411 6,238 29, % , ,173 Iturbe Empreendimentos Imobiliários. Ltda 7,179 3,138 4,041 1, % 1,253 4, ,037 Jamino Empreendimentos Imobiliários Ltda 2,758 2,790 (32) (9) 99.90% (9) (32) Jardim das Margaridas Empreendimentos imobiliários Ltda 12, , % 45 11, ,903 Jasmim Desenvolvimento Imob. Ltda - 12 (12) % - (6) Jetirana Empreendimentos S/A 117,707 76,608 41,099 (5,446) 50.00% (2,723) 20, ,550 Kansas Empreendimentos Imobiliários Ltda (421) 99.90% (579) Lacio Empreendimentos Imobiliários Ltda 15,274 29,482 (14,208) (2,284) 99.90% (2,282) (14,194) - 14,194 - Lacrima Empreendimentos Imobiliários Ltda 103, ,202 (16,943) (2,802) 99.90% (2,799) (16,926) - 16,926 - Lagos Empreendimentos S/A (8) (3) 50.00% (1) (4) Laion Empreendimentos Imobiliários Ltda 37,594 3,011 34,583 (523) % (523) 34, ,583 Lavatera Empreendimentos S/A % Liepaja Empreendimentos Imobiliários Ltda 24,214 3,301 20,913 6, % 6,268 20, ,913 Linania Empreendimentos Imobiliários Ltda 190, ,348 (51,822) (2,788) % (2,788) (51,822) - 51,822 - Linum Empreendimentos Imobiliários Ltda 16,485 1,075 15,411 (194) 99.90% (210) 15, ,395 Lobelia Empreendimentos S/A 9,476 8, (16) % (16) Lobulama Empreendimentos Imobiliários Ltda 11,184 8,813 2, % 92 2, ,368 Lonicera Empreendimentos Imobiliários Ltda 7, ,081 (35) % (35) 7, ,081 Malagueta Empreendimentos S/A 13,300 3,075 10,226 (918) 99.90% (917) 10, ,215 Malvaisco Empreendimentos Imobiliários Ltda 38,367 24,756 13, % , ,611 Mandevila Empreendimentos Imobiliários Ltda 2, ,648 (27) % (27) 1, ,648 Manêtia Empreendimentos S/A % Mangualde Empreendimentos Imobiliários Ltda 24,010 8,889 15, % 45 15, ,106 Mansoa Empreendimentos Imobiliários Ltda 6,236 16,840 (10,603) (939) 99.90% (938) (10,593) - 10,593 - Marene Empreendimentos Imobiliários Ltda 1 4 (3) (1) 99.90% (1) (3) Marianinha Empreendimentos S/A 1, % Marshall Empreendimentos Ltda 4,397 4, (1) 0.00% Matioca Empreendimentos Imobiliários Ltda 78,881 63,120 15,761 (101) % (101) 15, ,761 Melampodio Empreendimentos S/A 9,258 9,511 (253) (89) 99.90% (89) (253) Mesembrianteme Empreendimentos Imobiliários Ltda 26,255 28,973 (2,718) % 219 (2,716) - 2,716 - Mincio Empreendimentos Imobiliários Ltda 43,634 42, (1,436) % (1,436) Minulo Empreendimentos S/A 165, ,269 (28,781) (3,730) 99.90% (3,726) (28,753) - 28,753 - Molie Empreendimentos Imobiliários Ltda 7,571 1,129 6, % 59 6, ,436 Monstera Empreendimentos S/A 90,665 59,290 31, % 65 31, ,344 Moscatu Empreendimentos S/A 79,696 46,467 33, % , ,229 Naiades Empreendimentos Imobiliários Ltda 689 3,583 (2,893) (44) 99.90% (44) (2,891) - 2,891 - Nenufar Empreendimentos Imobiliários Ltda 6,979 6, (201) 99.90% (201) Nepeta Empreendimentos S/A 56,112 37,626 18, % 46 18, ,467 Nicandra Empreendimentos S/A 140,797 59,541 81, % , ,175 Nicotiana Empreendimentos Imobiliários Ltda 18,835 23,284 (4,449) (259) % (259) (4,449) - 4,449 - Nicuri Empreendimentos Imobiliários Ltda 53,230 49,625 3,605 3, % 3,714 3, ,602 Nidus Empreendimentos S/A 72,242 81,357 (9,115) % 37 (6,381) - 6,381 - Nievre Empreendimentos Imobiliários Ltda 9,679 22,739 (13,061) (761) 99.90% (761) (13,047) - 13,047 - Nigela Empreendimentos S/A % Nigra Empreendimentos S/A 37,961 27,188 10, % 46 10, ,762 Nonacris Empreendimentos Imobiliários Ltda 32,895 6,922 25,972 (473) % (447) 25, ,972 Oelde Empreendimentos Imobiliários Ltda 21,082 6,830 14,252 2, % 1,736 9, ,976 Olerácea Empreendimentos S/A 17,959 16, % Onagra Empreendimentos Imobiliários Ltda 19, , % 54 19, ,519 Orquídea Incorporadora Ltda 126, ,089 (143,092) (5,946) % (5,946) (143,092) - 143,092 - Pachira Empreendimentos Imobiliários Ltda 4,154 1,675 2,479 (1,286) % (1,286) 2, ,479 Pacino Empreendimentos Imobiliários Ltda 2,901 5,591 (2,691) (129) % (129) (2,691) - 2,691 - Paludosum Empreendimentos Imobiliários Ltda 17,057 22,230 (5,173) % 221 (5,168) - 5,168 - Panaque Empreendimentos Imobiliários Ltda 21,476 5,080 16,395 1, % 1,105 16, ,395 Papoila Empreendimentos S/A 25,847 24, % Peltatum Empreendimentos Imobiliários Ltda 14,656 14, (119) 99.90% (119) Pepo Empreendimentos S/A 24,424 26,231 (1,807) (127) 99.90% (127) (1,805) - 1,805 - Perpetuas Empreendimentos Imobiliários Ltda 39,938 24,665 15, % , ,273 Pervinca Empreendimentos S/A 45,928 49,508 (3,580) 3, % 3,442 (3,580) - 3,580 - Petrea Empreendimentos Imobiliários Ltda 1, , % - 1, ,680 Pietraporzio Empreendimentos Imobiliários Ltda 2, , % - 2, ,743 Piper Empreendimentos S/A 13,074 10,447 2, % 187 1, ,576 Piracanta Empreendimentos S/A 1, ,282 (149) 99.90% (152) 1, ,281 Piripiri Empreendimentos S/A 6,283 3,083 3, % 43 3, ,197 Plinia Empreendimentos Imobiliários Ltda 24, , % 62 23, ,854 Plomeu Empreendimentos Imobiliários Ltda (6) (1) 99.90% (1) (6) Poejo Empreendimentos Imobiliários Ltda 8,986 2,144 6, % 31 6, ,835 Porto Paradiso Empreendimentos S/A 4,517 2,778 1, % 51 1, ,738 Porto Paradiso Incorporadora S/A 5,705 9,875 (4,169) % 62 (4,169) - 4,169 - Pozuoli Empreendimentos Imobiliários Ltda - 4 (4) (1) 99.90% (1) (4) - 4 -

69 69 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Subsidiaries (cont) Praça Capital Desenvolvimento Imobiliário Ltda 1,526-1,526 (6) % (88) 1, ,526 Praça Capital Empreendimentos Dois S/A % Praça Capital Empreendimentos Imobiliários Ltda % Praça Capital Negócios Imobiliários Ltda 3, , % 37 3, ,060 Praça Paris Desenvolvimento Imobiliário S/A 15,290 9,102 6, % 113 6, ,182 Praça Paris Incorporadora S/A 13,682 17,843 (4,161) % 112 (4,161) - 4,161 - Praça Vila Romana Desenvolvimento Imobiliário Ltda % (47) Prelude Empreendimentos S/A 98,312 91,374 6,938 4, % 4,400 6, ,938 Pulchela Empreendimentos S/A 15,341 22,218 (6,877) % 44 (6,870) - 6,870 - Purpurata Empreendimentos S/A 20,548 7,002 13, % 54 13, ,547 Quadra B-3 Incorporadora Ltda 15,836 20,191 (4,356) % 6 (4,352) - 4,352 - Quenopodio Empreendimentos S/A 16,474 13,402 3, % - 2, ,304 Quibor Empreendimentos Imobiliários Ltda 10,574 10,829 (255) (1) 99.90% (1) (255) Ramizeri Empreendimentos Imobiliários Ltda 14,755 7,624 7,130 (38) 0.00% ,312 Raniona Empreendimentos Imobiliários Ltda 38,167 40,827 (2,660) (1,307) 99.90% (1,306) (2,657) - 2,657 - Raritá Desenvolvimento Imobiliário Ltda % Raritá Negócios Imobiliários Ltda 1,019-1, % - 1, ,019 RCI Consultoria de Imóveis Ltda 5, , % 255 4, ,468 Recreio Desenvolvimento Imobiliário Ltda 24,825 19,748 5,077 (10) % (10) 5, ,077 Recreio Empreendimentos Imobiliários Ltda 29,002 12,056 16,945 (73) % (73) 16, ,945 Rilstone Empreendimentos Imobiliários Ltda 10,221 8,500 1,721 (154) % (154) 1, ,721 Rimasco Empreendimentos Imobiliários Ltda 1 4 (3) (1) 99.90% (1) (3) Risaralda Empreendimentos Imobiliários Ltda 16,525 7,847 8,678 (726) 99.90% (257) 8, ,669 Riservato Negócios Imobiliários Ltda 1, , % - 1, ,700 Rodolita Empreendimentos Imobiliários Ltda 665 3,842 (3,178) (2,619) 99.90% (3,174) (3,174) - 3,174 - Rosalba Empreendimentos Imobiliários Ltda 8, ,101 (5) % (5) 8, ,101 Rossi Commercial Properties S/A (876) (182) 99.90% (182) (875) Rossi Consultoria de Imóveis - Goiânia Ltda % Rossi Consultoria de Imóveis Ltda 9,149 17,587 (8,437) (2,388) 99.99% (2,388) (8,437) - 8,437 - Rossi Empreendimentos Imobiliários Ltda % (1) Rossi Indústria de Artefatos de Concreto Ltda 17,463 31,987 (14,524) (582) % (596) (14,524) - 14,524 - Rossi Melnick Desenvolvimento Imobiliário S/A (258) % 10 (257) Rossi Melnick Empreendimentos S/A % Rossi Montante Incorporadora S/A 45,210 50,083 (4,873) (744) 99.98% (543) (4,872) - 4,872 - Rossi Morumbi Incorporadora S/A 9,443 21,454 (12,010) (21) % (21) (12,010) - 12,010 - Rossi Oscar Porto Incorporadora Ltda 107,054 86,052 21, % 13 21, ,002 Rossi S/A 1,135 1,635 (500) (6) % (6) (500) Rossi Securities Empreendimentos Imobiliários Ltda 20, ,691 (83) % (83) 19, ,691 Rossi Trust e Participações Ltda 56,188 57,881 (1,694) (833) % (833) (1,694) - 1,694 - Rossi Urbanizadora S/A 11,803 14,589 (2,785) (4,401) % (4,401) (2,785) - 2,785 - RRTI Desenvolvimento Imobiliário Ltda 17,310 3,704 13, % 6 13, ,606 Rubrum Empreendimentos Imobiliários Ltda 7,206 14,481 (7,274) (558) % (558) (7,274) - 7,274 - Rype SPE 3 - Empreendimentos Imobiliário Ltda 29,314 26,643 2,671 (133) 60.00% (80) 1, ,603 Sabanalarga Empreendimentos Imobiliários Ltda 9,547 5,842 3,705 (44) % (44) 3, ,705 Sambre Empreendimentos Imobiliários Ltda 15,427 7,725 7,702 (165) 99.90% (165) 7, ,695 Sampeire Empreendimentos Imobiliários Ltda 1 4 (3) (1) 99.90% (1) (3) Sândalo Desenvolvimento Imobiliário Ltda 207,544 69, ,747 (21) % (21) 137, ,747 Sândalo Empreendimentos Ltda 42,030 56,543 (14,513) (522) % (522) (14,513) - 14,513 - Sanderae Empreendimentos Imobiliários Ltda 72, ,292 (32,091) (264) % (264) (32,091) - 32,091 - Sanquezia Empreendimentos Imobiliários Ltda 80,129 59,772 20, % 19 14, ,250 Santa Adelaida Empreendimentos Imobiliários Ltda 4,649 1,989 2, % 95 1, ,330 Santa Agia Empreendimentos Imobiliários Ltda 15,428 22,650 (7,221) (707) 99.90% (706) (7,214) - 7,214 - Santa Alfreda Empreendimentos Imobiliários Ltda 5,906 1,712 4,195 (31) 99.90% (31) 4, ,190 Santa Alice Empreendimentos Imobiliários Ltda 1,432 1,571 (139) (6) 50.00% (3) (69) Santa Amanda Empreendimentos Imobiliários Ltda 37,884 55,746 (17,862) (8,377) 80.00% (6,701) (14,290) 13,175 1,115 - Santa Apolonia Empreendimentos Imobiliários Ltda 44,410 15,747 28,662 (1,113) % (1,113) 28, ,662 Santa Aurelia Empreendimentos Imobiliários Ltda 29,999 27,544 2, % 70 1,474 1,354-2,828 Santa Bibiana Empreendimentos Imobiliários Ltda 1-1 (31) 99.90% (27) Santa Brenda Empreendimentos Imobiliários Ltda % Santa Camila Empreendimentos Imobiliários Ltda 23,964 24,229 (265) (422) 50.00% (211) (133) Santa Capitolina Empreendimentos Imobiliários Ltda 4,615 4, % Santa Caridade Empreendimentos Imobiliários Ltda 24, , % , ,115 Santa Celestina Empreendimentos Imobiliários Ltda 44,283 94,716 (50,433) (6,332) 99.90% 4,306 (50,383) - 50,383 - Santa Dionisia Empreendimentos Imobiliários Ltda 9,173 17,269 (8,096) (517) 99.90% (517) (8,088) - 8,088 - Santa Doroteia Empreendimentos Imobiliários Ltda 5,915 5, (39) 99.90% (39) Santa Duna Empreendimentos Imobiliários Ltda 3,550 3, (1) 99.90% (1) Santa Edite Empreendimentos Imobiliários Ltda 22,313 27,612 (5,299) (1,412) 99.90% (1,410) (5,294) - 5,294 - Santa Erasma Empreendimentos Imobiliários Ltda 5,009 4, % Santa Esperança Empreendimentos Imobiliários Ltda 21,499 35,683 (14,184) (342) 99.90% (342) (14,169) - 14,169 - Santa Estefania Empreendimentos Imobiliários Ltda 7,825 13,208 (5,383) (7) 99.90% (7) (5,378) - 5,378 -

70 70 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Subsidiaries (cont) Santa Eufrosina Empreendimentos Imobiliários Ltda 5,772 1,669 4, % 309 4, ,099 Santa Exuperia Empreendimentos Imobiliários Ltda 20,231 12,131 8,100 (97) % (97) 8, ,100 Santa Flavia Empreendimentos Imobiliários Ltda 8,891 9,456 (565) % 12 (424) Santa Francisca Empreendimentos Imobiliários Ltda 12,097 11, % Santa Genoveva Empreendimentos Imobiliários Ltda 7,837 1,282 6, % 17 6, ,549 Santa Georgia Empreendimentos Imobiliários Ltda 4, , % 24 4, ,319 Santa Gontilda Empreendimentos Imobiliários Ltda 6,323 16,406 (10,082) (941) 99.90% (940) (10,072) - 10,072 - Santa Gundelina Empreendimentos Imobiliários Ltda 13,880 10,153 3, % 4 3, ,723 Santa Iza Empreendimentos Imobiliários Ltda 7, , % 795 6, ,128 Santa Joconda Empreendimentos Imobiliários Ltda 1 74 (74) % 75 (74) Santa Justina Empreendimentos Imobiliários Ltda 2,328 2,804 (476) (509) 99.90% (509) (475) Santa Manuela Empreendimentos Imobiliários Ltda 14,791 11,055 3,737 (316) % (316) 3, ,737 Santa Margarete Empreendimentos Imobiliários Ltda 22,239 6,459 15,780 (1,203) 99.90% (1,202) 15, ,764 Santa Marianela Empreendimentos Imobiliários S/A 65,303 65,777 (474) (1,676) 90.00% (1,509) (426) Santa Matilda Empreendimentos Imobiliários Ltda 28,829 19,424 9, % 11 9, ,405 Santa Maura Empreendimentos Imobiliários Ltda 29,700 30,949 (1,249) (115) 87.50% (101) (1,093) - 1,093 - Santa Melania Empreendimentos Imobiliários Ltda 21,404 30,926 (9,522) (712) % (712) (9,522) - 9,522 - Santa Mena Empreendimentos Imobiliários Ltda % Santa Narcisa Empreendimentos Imobiliários Ltda 15,170 8,295 6, % 22 6, ,875 Santa Natalia Empreendimentos Imobiliários Ltda 9, ,818 (293) 99.90% (292) 8, ,809 Santa Nina Empreendimentos Imobiliários Ltda 9,878 12,576 (2,698) % 4 (2,696) - 2,696 - Santa Noemia Empreendimentos Imobiliários Ltda 28,349 41,736 (13,387) (1,136) % (1,136) (13,387) - 13,387 - Santa Odete Empreendimentos Imobiliários Ltda 3, , % 60 3, ,116 Santa Odilia Empreendimentos Imobiliários Ltda 14,529 3,005 11, % 95 11, ,523 Santa Olga Empreendimentos Imobiliários Ltda 29,663 18,089 11, % , ,574 Santa Otavia Empreendimentos Imobiliários Ltda 26,145 9,841 16, % , ,304 Santa Paloma Empreendimentos Imobiliários Ltda 36,591 25,895 10,696 (1) % (1) 10, ,696 Santa Patrícia Empreendimentos Imobiliários Ltda 48,143 58,996 (10,853) % 486 (10,853) - 10,853 - Santa Quilonia Participações e Empreendimentos Ltda (19) (1) 99.90% (1) (19) Santa Quitéria Empreendimentos Imobiliários Ltda 28,895 22,634 6, % 20 6, ,255 Santa Rafaela Empreendimentos Imobiliários Ltda (42) 5,674 (5,715) (3,750) 99.90% (3,747) (5,710) - 5,710 - Santa Rebeca Empreendimentos Imobiliários Ltda 4, , % 9 3, ,808 Santa Ruth Empreendimentos Imobiliários Ltda 20,561 8,674 11, % 44 11, ,886 Santa Sabina Empreendimentos Imobiliários Ltda 45,776 45, (388) % (388) Santa Susana Empreendimentos Imobiliários S/A 46,643 83,998 (37,355) (593) 99.90% (592) (37,317) - 37,317 - Santa Taciana Empreendimentos Imobiliários Ltda 7,957 7, % Santa Tarcila Empreendimentos Imobiliários Ltda 54,325 52,657 1,668 (2,199) 99.90% (2,197) 1, ,666 Santa Teodata Empreendimentos Imobiliários Ltda 57,149 75,972 (18,823) (2,401) % (2,401) (18,823) - 18,823 - Santa Veronica Empreendimentos Imobiliários Ltda 2,462 2, % Santa Zenaide Empreendimentos Imobiliários Ltda 33,365 13,792 19,573 (165) 99.90% (165) 19, ,554 Santa Zenobia Empreendimentos Imobiliários Ltda 27,363 19,788 7,575 (363) % (363) 7, ,575 Santa Zita Empreendimentos Imobiliários Ltda 16,669 22,069 (5,400) % 31 (5,395) - 5,395 - Santa Priscila Empreendimentos Imobiliários Ltda 24,860 16,515 8, % 68 8, ,345 Santo Albino Empreendimentos Imobiliários Ltda % Santo Alexandre Empreendimentos Imobiliários Ltda % Santo Ambrosio Empreendimentos Imobiliários S/A (108) 1, % 1,437 (108) Santo Anastacio Empreendimentos Imobiliários S/A 26,582 55,510 (28,928) (3,043) 99.90% (3,040) (28,899) - 28,899 - Santo Angelo Empreendimentos Imobiliários Ltda 14,186 12,284 1, % 117 1, ,900 Santo Antão Empreendimentos Imobiliários Ltda 9,835 10,552 (717) (435) 99.90% (435) (716) Santo Atanasio Empreendimentos Imobiliários Ltda 11,437 4,832 6, % 6 6, ,598 Santo Eduardo Empreendimentos Imobiliários Ltda 25,778 38,759 (12,981) (317) 99.90% (317) (12,968) - 12,968 - Santo Elias Empreendimentos Imobiliários Ltda 9,666 10,550 (884) (592) 99.90% (591) (883) Santo Erasmo Empreendimentos Imobiliários Ltda 121, ,899 (10,657) (9,457) 99.90% (9,448) (10,647) - 10,647 - Santo Estanislau Empreendimentos Imobiliários Ltda 66,251 77,926 (11,675) (379) % (379) (11,675) - 11,675 - Santo Estevão Empreendimentos Imobiliários Ltda 5,712 2,938 2, % 384 2, ,772 Santo Eugenio Empreendimentos Imobiliários Ltda 6,116 7,174 (1,059) (18) 99.90% (18) (1,058) - 1,058 - Santo Eusebio Empreendimentos Imobiliários Ltda 14,342 17,766 (3,423) % 121 (3,420) - 3,420 - Santo Evaristo Empreendimentos Imobiliários Ltda 70, ,323 (40,975) (10,982) % (10,982) (40,975) - 40,975 - Santo Expedito Empreendimentos Imobiliários S/A 24,939 52,605 (27,666) (1,287) % (1,314) (27,666) - 27,666 - Santo Herculano Empreendimentos Imobiliários Ltda 8,786 7,508 1, % 26 1, ,278 Santo Humberto Empreendimentos Imobiliários Ltda 42,318 6,207 36,111 2, % 2,024 36, ,075 Santo Inacio Empreendimentos Imobiliários Ltda 12,353 11, (415) 99.90% (414) Santo Inocencio Empreendimentos Imobiliários Ltda 9,493 8, % Santo Irineu Empreendimentos Imobiliários Ltda 14,472 6,343 8,128 (2) 87.50% (2) 7, ,112 Santo Lorenzo Empreendimentos Imobiliários Ltda 21,799 12,841 8,957 (256) % (256) 8, ,957 Santo Uriel Empreendimentos Imobiliários Ltda 29,423 38,779 (9,356) (3,399) 99.90% (3,395) (9,347) - 9,347 - São Beltran Empreendimentos Imobiliários Ltda 11,443 15,561 (4,118) (4) 99.90% (4) (4,113) - 4,113 - São Benildo Empreendimentos Imobiliários Ltda 7,852 9,628 (1,776) (179) 99.90% (179) (1,774) - 1,774 - São Bertino Empreendimentos Imobiliários Ltda 9,717 20,114 (10,397) (553) 99.90% (553) (10,386) - 10,386 - São Bessario Empreendimentos Imobiliários Ltda 9,910 10,316 (406) % 37 (405)

71 71 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Subsidiaries (cont) São Braulio Empreendimentos Imobiliários Ltda 19,733 13,731 6, % 43 5, ,996 São Bruno Empreendimentos Imobiliários Ltda 16,017 14,455 1,562 (25) 99.90% (25) 1, ,561 São Caemon Empreendimentos Imobiliários Ltda 6,375 7,787 (1,411) (319) 99.90% (318) (1,410) - 1,410 - São Celestino Empreendimentos Imobiliários Ltda 13,849 14,753 (904) (390) 99.90% (389) (903) São Cesario Empreendimentos Imobiliários Ltda 21,404 28,329 (6,925) (872) 99.90% (871) (6,918) - 6,918 - São Cornelio Empreendimentos Imobiliários Ltda 15,052 1,562 13,490 4, % 4,941 13, ,489 São Crisanto Empreendimentos Imobiliários Ltda 13,964 21,370 (7,406) (101) 99.90% (101) (7,399) - 7,399 - São Crispim Empreendimentos Imobiliários Ltda 56,747 23,103 33, % 99 33, ,644 São Crispiniano Empreendimentos Imobiliários Ltda 112, ,779 (32,381) (1,414) 99.90% (1,413) (32,349) - 32,349 - São Damaso Empreendimentos Imobiliários Ltda 1-1 (193) 99.90% (195) São Desiderio Empreendimentos Imobiliários Ltda 8,406 4,763 3, % 58 3, ,639 São Dionisio Empreendimentos Imobiliários Ltda 22,042 24,062 (2,021) (188) 99.90% (187) (2,019) - 2,019 - São Gabino Empreendimentos Imobiliários Ltda 1-1 (7) 99.90% (3) São Genciano Empreendimentos Imobiliários Ltda (94) % 42 (94) São Geraldo Empreendimentos Imobiliarios Ltda 26,385 16,347 10, % 34 10, ,027 São Gerôncio Empreendimentos Imobiliários Ltda 7,145 1,953 5,193 (22) 70.00% (16) 3, ,635 São Gonzalo Empreendimentos Imobiliários Ltda 10,079 15,670 (5,591) (1,724) 70.00% (1,207) (3,914) - 3,914 - São Loureano Empreendimentos Imobiliários Ltda 8,273 8,760 (487) (1) 99.90% (1) (487) São Mamede Empreendimentos Imobiliários Ltda - 43 (43) % - (43) São Mancio Empreendimentos Imobiliários Ltda 42,968 83,771 (40,803) (7,597) 99.90% (7,589) (40,762) - 40,762 - São Marçal Empreendimentos Imobiliários Ltda 10,576 10, (290) 99.90% (290) São Marcelino Empreendimentos Imobiliários Ltda 13,546 13,567 (21) % 49 (21) São Mario Empreendimentos Imobiliários Ltda 13,489 12, % São Martim Empreendimentos Imobiliários Ltda 81, ,943 (35,337) % 187 (35,337) - 35,337 - São Mauricio Empreendimentos Imobiliários Ltda 96, ,733 (52,477) (6,851) 99.90% (6,844) (52,425) - 52,425 - São Maurilio Empreendimentos Imobiliários Ltda 16,432 1,342 15,091 (124) 99.90% (124) 15, ,076 São Mucio Empreendimentos Imobiliários Ltda 8,002 10,214 (2,213) (6) 99.90% (6) (2,210) - 2,210 - São Nicodemus Empreendimentos Imobiliários Ltda 3, , % 248 2, ,844 São Pelagio Empreendimentos Imobiliários Ltda 15,516 1,336 14,180 (66) 99.90% (66) 14, ,166 São Procopio Empreendimentos Imobiliários Ltda 23,111 31,893 (8,782) % 475 (8,773) - 8,773 - São Quirino Empreendimentos Imobiliários Ltda 17,585 18,680 (1,095) (579) 99.90% (579) (1,094) - 1,094 - São Remigio Empreendimentos Imobiliários Ltda 8,537 5,990 2,547 (148) 99.90% (148) 2, ,545 São Ricardo Empreendimentos Imobiliários Ltda 10,624 10, % São Rodrigo Empreendimentos Imobiliários Ltda 8,904 8, % São Severino Empreendimentos Imobiliários Ltda 6,938 4,271 2, % 16 2, ,134 São Silvestre Empreendimentos Imobiliários Ltda 8,605 2,690 5,914 (2) 99.90% (2) 5, ,909 São Teodorico Empreendimentos Imobiliários Ltda 1,718 15,661 (13,943) (472) 99.90% (472) (13,929) - 13,929 - São Teofilo Empreendimentos Imobiliários Ltda 8,296 2,456 5,839 (195) 99.90% (195) 5, ,833 São Norberto Empreendimentos Imobiliários Ltda 4,113 4,122 (9) % - (9) São Prudencio Empreendimentos Imobiliários Ltda 16,477 9,959 6, % 60 6, ,512 Saponaria Empreendimentos S/A - 10 (10) (2) 99.90% (2) (10) Sarapo Empreendimentos Imobiliários Ltda 5,824 8,680 (2,855) % 70 (2,853) - 2,853 - Saratoga Empreendimentos Imobiliários Ltda 28,577 25,471 3,106 (154) % (154) 3, ,106 Sarita Empreendimentos Imobiliários Ltda 25,434 28,410 (2,976) % 59 (2,973) - 2,973 - SCP Alegro - Araucaia Empreend. 1, (1) 0.00% SCP Celebrete - Celebrete Empreend. 179, ,665 38,993 (405) 50.00% (202) 19,497 23,965-43,462 SCP Cotegipe - Araucaia Empreend. 30,517-30,517 (1) 0.00% SCP Fabrice 7,967 3,775 4,191 (38) 0.00% Sempreflores Empreendimentos Imobiliários Ltda 2,910 4,674 (1,764) (2) 99.90% (2) (1,762) - 1,762 - Senecio Empreendimentos Imobiliários Ltda 27,730 1,709 26,022 (133) % (133) 26, ,022 Shuarbe Empreendimentos Imobiliários Ltda 21,284 21, (18) 99.90% (19) Shuarbe Incorporações de Empreendimentos Imobiliários Ltda 19,104 6,671 12,433 (53) 99.90% (66) 12, ,421 Sibipuruna Empreendimentos Imobiliários Ltda 12,115 5,292 6,823 (215) 99.99% (215) 6, ,823 Sinuatum Empreendimentos Imobiliários Ltda 32,329 57,820 (25,491) (4,576) 99.90% (4,572) (25,465) - 25,465 - Sisiano Empreendimentos Imobiliários Ltda (4) (1) 99.90% (1) (4) Sogamoso Empreendimentos Imobiliários Ltda 5, , % 8 5, ,325 SPE Alto da Boa Vista Empreendimentos Imobiliários T Ltda 33,733 10,288 23, % , ,421 SPE Condomínio Jardins da França Ltda 31,064 3,942 27,122 (79) 99.90% (23) 27, ,094 SPE Condomínio Recanto das Árvores Ltda 43,868 52,642 (8,774) (1,395) 99.90% (940) (8,765) - 8,765 - SPE Condomínio Vila Das Artes Ltda 39,192 42,123 (2,932) (1,575) 99.90% (1,024) (2,929) - 2,929 - SPE Parque Sementeiras Empreendimentos Imobiliários T Ltda 82, ,945 (25,982) (7,932) 99.90% (6,821) (25,956) - 25,956 - SPE Pier Empreendimentos Imobiliários Ltda 32,502 4,130 28,373 (352) % (352) 28, ,373 Tacarigua Empreendimentos Imobiliários Ltda (5) (1) 99.90% (1) (5) Tadorna Empreendimentos Imobiliários Ltda 33,147 16,365 16,783 2, % 2,045 16, ,766 Tainacam Empreendimentos Imobiliários Ltda 7,978 9,664 (1,686) (41) 99.90% (41) (1,684) - 1,684 - Talauma Empreendimentos S/A 2,560 2, % Tanais Empreendimentos Imobiliários Ltda 13,281 13,551 (270) (1) 99.90% (1) (270) Tauranga Empreendimentos Imobiliários Ltda 71,865 79,685 (7,820) 2, % 2,643 (7,812) - 7,812 - Temiscira Empreendimentos Imobiliários Ltda 8,900 3,111 5,789 (375) 50.00% (188) 2, ,894 Tenela Empreendimentos S/A 17,720 3,653 14,067 (598) % (598) 14, ,067

72 72 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Subsidiaries (cont) Tessalia Empreendimentos Imobiliários Ltda 36,452 52,397 (15,945) (799) 99.90% (799) (15,929) - 15,929 - Teutrania Empreendimentos Imobiliários Ltda 45,285 42,972 2,313 2, % 2,746 2, ,311 Tieze Empreendimentos Imobiliários Ltda - 3 (3) (1) 99.90% (1) (3) Tindaro Empreendimentos Imobiliários Ltda 10,299 7,900 2,399 (17) 99.90% (17) 2, ,396 Toctao-Rossi Empreendimentos Imobiliários S/A 2 8,092 (8,091) (62) 99.90% (62) (8,082) - 8,082 - Trevoro Empreendimentos Imobiliários Ltda 2,811 2,816 (5) (1) 99.90% (1) (5) Troade Empreendimentos Imobiliários Ltda 14,923 11,443 3,480 (70) % (70) 3, ,480 Trombeta Empreendimentos Imobiliários Ltda 72,949 61,350 11, % 6,052 11, ,599 Tulipa Incorporadora Ltda 45,373 62,888 (17,515) (1,628) % (1,628) (17,515) - 17,515 - Tunico Empreendimentos Imobiliários Ltda 2,412 10,745 (8,333) (11) 99.90% (11) (8,325) - 8,325 - Uliginosa Empreendimentos Imobiliários Ltda 18,708 5,635 13,073 (243) 99.90% (242) 13, ,060 Uribia Empreendimentos Imobiliários Ltda 7,623 6, (2) 99.90% (3) Valpeline Empreendimentos Imobiliários Ltda - 3 (3) (1) 99.90% (1) (3) Vardaman Empreendimentos Imobiliários Ltda 6,995 1,284 5, % 32 5, ,705 Vernonia Empreendimentos Imobiliários Ltda 11,148-11, % 6 11, ,148 Vicença Empreendimentos Imobiliários Ltda 16,722 21,077 (4,355) (1,166) 50.00% (583) (2,178) - 2,178 - Vigo Empreendimentos S/A 9,655 2,583 7,072 (288) % (288) 7, ,072 Vila Albani Empreendimentos Imobiliários Ltda 22, , % , ,367 Vila Flora Hortolândia Empreendimentos Imobiliários Ltda 171, ,850 39,479 (422) % (422) 39, ,479 Vila Solo Empreendimentos Imobiliários Ltda 22,412 6,445 15, % 4 15, ,967 Vinadio Empreendimentos Imobiliários Ltda 17,032 16, (161) 99.90% (161) Viterbo Empreendimentos Imobiliários Ltda 50,953 51,140 (188) (359) 99.90% (358) (188) Vitis Empreendimentos S/A 59,049 62,220 (3,171) % 104 (3,168) - 3,168 - Voerde Empreendimentos Imobiliários Ltda 10 2,839 (2,829) (2) 99.90% (2) (2,826) - 2,826 - Volturno Empreendimentos Imobiliários Ltda (299) % - (299) Zaculeu Empreendimentos Imobiliários Ltda 19,503 17,340 2, % 58 2, ,161 Zadoque Empreendimentos Imobiliários Ltda 38,294 39,305 (1,011) (1,861) 90.00% (1,675) (910) Zuquini Empreendimentos S/A 10,574 11,153 (580) % 14 (579) Excedente ao valor contábil na compra 22,613 Encargos capitalizados 54,068 54,068 Outros (27,151) (25,916) (10,496) (36,412) Subtotal Subsidiaries 12,643,108 11,477,729 1,165,397 (171,449) (178,311) 1,063,022 45,704 1,667,706 2,817,358

73 73 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Non-Subsidiaries (cont.) Abante Empreendimentos Imobiliários Ltda. 2, , % Abelia Empreendimentos Imobiliários Ltda 1, ,091 (32) 33.93% (11) Acalantis Empreendimentos Imobiliários Ltda 13,021 3,215 9, % 190 4, ,903 Acidantera Empreendimentos Imobiliários Ltda 1, ,125 (1) 33.93% Adenium Empreendimentos Imobiliários Ltda 1, , % Adoncia Empreendimentos Imobiliários Ltda 46,896 57,557 (10,661) (508) 50.00% (254) (5,331) - 5,331 - Agave Empreendimentos Imobiliários Ltda 1, ,105 (1) 33.93% Aliberti Empreendimentos S/A 10,470 9,144 1, % Alzete Empreendimentos Imobiliários Ltda 41,479 48,687 (7,208) % - (7) Amarelinha Empreendimentos S/A 6,699 6, % Anadir Empreendimentos Imobiliários Ltda 9 33 (25) (2) 0.10% Anagalis Empreendimentos S/A (585) (1) 50.00% - (292) Ananke Empreendimentos Imobiliários Ltda - 28 (28) (1) 0.10% Aneliasia Empreendimentos S/A 1,827 1, % Anemone Empreendimentos S/A 10,014 9, % Anfriso Empreendimentos Imobiliários Ltda 7,639 1,351 6, % Anona Empreendimentos S/A 15,518 18,676 (3,158) (126) 45.00% (57) (1,421) - 1,421 - Apolda Empreendimentos Imobiliários Ltda 37,422 41,688 (4,265) (502) 0.10% - (4) Ardisia Empreendimentos S/A 112, ,532 (23,270) (680) 90.00% (612) (20,943) 49,518-28,574 Aretusa Empreendimentos Imobiliários Ltda 3, ,268 (19) 0.00% Asistásia Empreendimentos S/A 6,849 2,672 4,177 (3) 48.52% (2) 2, ,027 Asmiscada Empreendimentos S/A 14,210 10,674 3, % 14 2, ,476 Astilbe Empreendimentos Imobiliários Ltda 2,833 1,345 1, % Avinon Empreendimentos Imobiliários Ltda 72,171 87,651 (15,479) (4,917) 0.10% (2) (15) Baça Empreendimentos Imobiliários Ltda (448) % Baceiro Empreendimentos Imobiliários Ltda 21,342 7,609 13,733 (1,666) 0.10% Barbarea Empreendimentos Imobiliários Ltda 6 15 (9) % - (6) Batuira Empreendimentos Imobiliários Ltda 11,942 2,003 9, % Beaumontia Empreendimentos S/A 11,371 14,430 (3,059) % 159 (1,529) - 1,529 - Berilo Empreendimentos Imobiliários Ltda - 1,661 (1,661) % - (2) Bétula Empreendimentos S/A 13,374 4,389 8,985 (54) 70.00% (38) 6, ,290 Brassica Empreendimentos S/A 10,965 11,551 (586) (653) 70.00% (457) (410) Bucaramanga Empreendimentos Imobiliários Ltda 95,777 79,266 16,512 4, % Calabozo Empreendimentos Imobiliários Ltda 2,988 3,121 (133) (10) 0.10% Calaminta Empreendimentos S/A 5,532 5, % Calibracoa Empreendimentos S/A 9,465 4,497 4, % 1 2, ,484 Caliméria Empreendimentos Imobiliários Ltda 19,631 19,674 (43) % Campanula Empreendimentos S/A 7,901 7, % Campos Sales Empreendimentos Imobiliários Ltda 60,970 22,308 38,663 7, % 3,354 15, ,465 Caniço Empreendimentos Imobiliários Ltda - 14 (14) % Capital Rossi Empreendimentos S/A 1,650,636 1,471, ,351 (6,938) 50.00% (3,469) 89, , ,553 Cariniana Empreendimentos S/A 9,968 14,747 (4,779) % 4 (3,345) - 3,345 - Cartaxo Empreendimentos Imobiliários Ltda 53,802 68,885 (15,083) (6,221) 0.10% (3) (15) Cefisso Empreendimentos Imobiliários Ltda 226, ,576 (13,252) (2,913) 0.10% (2) (13) Centela Empreendimentos S/A 4,437 1,862 2, % 69 1, ,674 Ciclame Desenvolvimento Imobiliário S/A 39,619 13,523 26, % 79 24, ,638 Ciclame Empreendimentos S/A 1,310 (498) 1,809 (6) 70.00% (4) 1, ,266 Citero Empreendimentos Imobiliários Ltda 77,233 82,078 (4,845) (2,212) 0.10% - (5) Clarence Empreendimentos Imobiliários Ltda (848) % - (594) Cleomeia Empreendimentos S/A 75,616 19,289 56,327 3, % 2,103 33, ,796 Convulata Empreendimentos S/A - 40 (40) % - (20) Coreópisis Empreendimentos S/A 100, ,164 (9,652) (768) 47.50% (365) (4,585) - 4,585 - Coriandrum Empreendimentos S/A % Costa São Caetano Empreendimentos S/A 59,096 55,473 3,623 1, % 605 1, ,812 Courgete Empreendimentos S/A 8,950 23,654 (14,704) (134) 50.00% (67) (7,352) - 7,352 - Crimiso Empreendimentos Imobiliários Ltda 5,276 5, (3) 0.10% Cumbria Empreendimentos Imobiliários Ltda 91, ,212 (13,005) (3,968) 0.10% (3) (13) Dalia Empreendimentos Imobiliários Ltda 45 (82) % Damacena Empreendimentos S/A 179, ,656 (47,586) (2,501) 65.00% (1,626) (30,931) 55,896-24,965 Demetris Empreendimentos Imobiliários Ltda 13,269 13, % Deodoro Empreendimentos Imobiliários Ltda 2,440 2,603 (163) (13) 0.10% Difusa Empreendimentos S/A 91,486 38,854 52,632 1, % , ,211 Dinarte Empreendimentos Imobiliários Ltda 1, ,777 (1) 0.00% Duarte - Edificio Vila Boa Vista Ltda 9,264 5,544 3,719 (31) 50.00% (16) 1, ,860 Duitama Empreendimentos Imobiliários Ltda (201) % Egeon Empreendimentos Imobiliários Ltda 3,398 3,892 (495) % Elvas Empreendimentos Imobiliários Ltda 27,712 33,523 (5,811) (2,233) 65.00% (1,452) (3,777) - 3,777 - Enipeu Empreendimentos Imobiliários Ltda 93, ,854 (11,100) (4,440) 0.10% - (11) Erasino Empreendimentos Imobiliários Ltda (167) % Eridano Empreendimentos Imobiliários Ltda 221, ,751 (14,313) (3,347) 0.10% (1) (14)

74 74 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Non-Subsidiaries (cont.) Erioteca Empreendimentos S/A % Esepo Empreendimentos Imobiliários Ltda 116, ,634 (6,911) % Esposende Empreendimentos Imobiliários Ltda - 10 (10) (6) 0.00% Estrimon Empreendimentos Imobiliários Ltda (773) % - (1) Exacum Empreendimentos Imobiliários Ltda - 44 (44) % - (22) Flegetonte Empreendimentos Imobiliários Ltda 8 13 (5) (1) 0.10% Freamunde Empreendimentos Imobiliários Ltda 17,845 8,000 9,845 (622) 65.00% (404) 6, ,399 Fucsia Empreendimentos S/A 143, ,475 (58,634) (20,697) 60.00% (12,418) (35,181) 30,942 4,239 - Glicínia Empreendimentos S/A 1,996 1, % Guaipira Empreendimentos Imobiliários Ltda 23,029 2,393 20,637 6, % Gustávia Empreendimentos S/A 1, % Hibride Empreendimentos Imobiliários Ltda 40,458 29,358 11, % Ideal Matão Negócios Imobiliários Ltda 12,345 13,488 (1,143) (571) 49.95% (285) (571) Incana Empreendimentos S/A 14,167 9,672 4, % 34 2, ,248 Ipiales Empreendimentos Imobiliários Ltda (20) (2) 0.10% Ituni Empreendimentos Imobiliários. Ltda 1 17 (16) (2) 0.10% LHM Participação S/A - 24 (24) % - (12) Londres Empreendimentos S/A 36,097 27,217 8,879 (312) 50.00% (156) 4, ,440 Machiques Empreendimentos Imobiliários Ltda 108, ,024 (15,154) (6,122) 0.10% (2) (15) Maine Empreendimentos Imobiliários Ltda 44,564 1,628 42,936 17, % Malmequer Empreendimentos S/A 108, ,818 6, % 376 3, ,058 Mandarim Empreendimentos Imobiliários Ltda 49,769 54,573 (4,804) (615) 65.00% (400) (3,123) - 3,123 - Mergonia Empreendimentos S/A 1,121 2,334 (1,213) % - (294) Messina Incorporação SPE Ltda 40,309 30,692 9,617 8, % 4,376 4,809 2,786-7,595 Moinho Velho Empreendimentos Imobiliários SPE Ltda 11, , % 2,696 5, ,864 Mucuna Empreendimentos S/A 6,270 6,449 (179) (2) 70.00% (1) (125) Norcon Rossi Empreendimentos. S/A 714, , ,152 (12,306) 70.00% (8,614) 147,107 68, ,663 North York Empreendimentos S/A 2, , % 17 1, ,208 North York Negócios Imobiliários S/A 2,096 2,829 (733) % 115 (367) Pacarana Empreendimentos Imobiliários Ltda 7, ,271 2, % Peônia Empreendimentos Imobiliários S/A 74,908 27,851 47,057 (246) 33.70% (83) 15, ,858 Persefone Empreendimentos Imobiliários Ltda 11,368 1,903 9,465 (1) 0.00% Pinerolo Empreendimentos Imobiliários Ltda 20, ,998 (1) 50.00% (1) 9, ,999 Pirna Empreendimentos Imobiliários Ltda 86,238 95,151 (8,913) (3,230) 0.10% (2) (9) Prunus Empreendimentos S/A 4,617 2,593 2, % Pumila Empreendimentos S/A 6,825 10,315 (3,490) (56) 48.52% (27) (1,694) - 1,694 - RCG Urbanismo Ltda 20,884 5,986 14, % 3 7, ,449 Realengo SPE Empreendimento Imobiliário S/A (282) (30) 60.00% (18) (169) Salmiana Empreendimentos S/A 48,433 42,004 6,429 (55) 50.00% (28) 3, ,215 Sangario Empreendimentos Imobiliários Ltda 34,455 40,100 (5,645) % - (6) Santa Adelvina Empreendimentos Imobiliários Ltda 88,921 91,189 (2,268) (740) 0.00% Santa Agape Empreendimentos Imobiliários Ltda 17,557 6,696 10,861 (14) 40.00% (6) 4, ,344 Santa Agueda Empreendimentos Imobiliários Ltda (6) (1) 50.00% (1) (3) Santa Antonina Empreendimentos Imobiliários Ltda 4, , % 569 2, ,711 Santa Aurora Empreendimentos Imobiliários Ltda 9,035 2,937 6,098 (46) 0.10% Santa Beatriz Empreendimentos Imobiliários Ltda 140, ,088 (20,976) (4,361) 55.00% (2,398) (11,537) - 11,537 - Santa Belina Empreendimentos Imobiliários Ltda 11,268 1,455 9,814 (137) 0.00% Santa Calixta Empreendimentos Imobiliários Ltda 25,748 7,714 18,034 (18) 0.00% Santa Cassilda Empreendimentos Imobiliários Ltda 17,601 2,629 14, % Santa Cordelia Empreendimentos Imobiliários Ltda 57,876 77,496 (19,620) (4,202) 0.10% (2) (20) Santa Emereciana Empreendimentos Imobiliários Ltda 23,947 2,239 21, % Santa Enriqueta Empreendimentos Imobiliários Ltda 17,938 27,084 (9,146) (5,537) 28.00% (3,322) (2,561) - 2,561 - Santa Felipa Empreendimentos Imobiliários Ltda 12, ,354 (840) 60.00% (504) 7, ,412 Santa Fidelmia Empreendimentos Imobiliários Ltda. 9, , % Santa Giana Empreendimentos Imobiliários Ltda 25, , % Santa Gisela Empreendimentos Imobiliários Ltda 2,587 3,958 (1,371) (39) 90.00% (35) (1,234) - 1,234 - Santa Humbelina Empreendimentos Imobiliários Ltda 26,216 19,649 6,567 (71) 0.10% Santa Kilian Empreendimentos Imobiliários Ltda 39,646 47,991 (8,345) % 557 (5,007) 16,838-11,831 Santa Leoncia Empreendimentos Imobiliários Ltda 28,382 4,477 23,905 2, % Santa Lucrecia Empreendimentos Imobiliários Ltda 1,392 5,025 (3,633) (10) 90.00% (9) (3,270) - 3,270 - Santa Silvana Empreendimentos Imobiliários Ltda 28,666 6,971 21,695 (14) 55.00% (8) 11, ,933 Santa Silvia Empreendimentos Imobiliários Ltda 47,593 63,317 (15,724) (1,724) 55.00% (948) (8,648) - 8,648 - Santa Sofia Empreendimentos Imobiliários Ltda 153, ,137 (2,777) (1,555) 10.00% (155) (278) Santa Solange Empreendimentos Imobiliários Ltda 17,362 3,002 14,360 (108) 10.00% (11) 1, ,436 Santo Adriano Empreendimentos Imobiliários Ltda 3, , % 37 2, ,203 Santo Agostinho Empreendimentos Imobiliários Ltda 13,617 27,089 (13,473) 1, % 745 (8,084) - 8,084 - Santo Alberto Empreendimentos Imobiliários Ltda 6,911 6,984 (74) (1) 70.00% (1) (52) Santo Amadeu Empreendimentos Imobiliários Ltda 60,006 43,087 16, % 14 16, ,073 Santo Anatolio Empreendimentos Imobiliários Ltda 32,947 1,998 30,950 (357) 0.00% Santo Aniceto Empreendimentos Imobiliários Ltda 10,696 5,725 4,971 (305) 50.00% (152) 2, ,486

75 75 Assets Liabilities Shareholders Equity September-2016 Profit (Loss) for the period. Interest. % Equity in subsidiaries Investment Balance Advances for future capital increase Equity deficiency transfer Total Non-Subsidiaries (cont.) Santo Artemio Empreendimentos Imobiliários Ltda 41,468 47,280 (5,812) (553) 0.10% - (6) Santo Egidio Empreendimentos Imobiliários Ltda 23,132 37,512 (14,379) (2,700) 50.00% (1,350) (7,190) - 7,190 - Santo Eliseu Empreendimentos Imobiliários Ltda 10, ,910 (3) 50.00% (2) 4, ,955 Santo Ildefonso Empreendimentos Imobiliários Ltda. 67,026 73,903 (6,877) (1,167) 0.10% (1) (7) Santo Indalecio Empreendimentos Imobiliários Ltda 9,448 2,257 7,191 (14) 0.10% Santo Isidro Empreendimentos Imobiliários Ltda - 65 (65) % - (42) Santo Orlando Empreendimentos Imobiliários Ltda 13,508 3,500 10,008 (14) 70.00% (9) 7, ,006 São Basilio Empreendimentos Imobiliários Ltda 18,733 21,909 (3,176) % 465 (2,223) - 2,223 - São Boris Empreendimentos Imobiliários Ltda - 12 (12) % - (8) São Constantino Empreendimentos Imobiliários Ltda 43,432 54,350 (10,918) (449) 0.10% - (11) São Daniel Empreendimentos Imobiliarios Ltda 80, ,771 (20,334) (9,869) 0.10% (5) (20) São Felix Empreendimentos Imobiliários Ltda 53,693 15,822 37, % 66 20, ,829 São Fiacre Empreendimentos Imobiliários Ltda. 37,960 40,008 (2,048) (358) 0.10% - (2) São Fidelis Empreendimentos Imobiliários Ltda 58,898 71,570 (12,671) (6,891) 50.00% (3,445) (6,336) 13,121-6,786 São Hipolito Empreendimentos Imobiliários Ltda 55,505 66,026 (10,521) (590) 10.00% (59) (1,052) - 1,052 - São Leopoldo Empreendimentos Imobiliários Ltda 19,517 3,801 15,716 (49) 10.00% (5) 1, ,572 São Raimundo Empreendimentos Imobiliários Ltda 51,203 52,198 (995) % (1) (1) São Ramiro Empreendimentos Imobiliários Ltda 14, ,407 1, % 538 6, ,704 São Sinfronio Empreendimentos Imobiliários Ltda. 35,826 1,299 34,527 13, % São Teobaldo Empreendimentos Imobiliários Ltda 41,973 16,782 25, % , ,672 São Tranquilino Empreendimentos Imobiliários Ltda 47,930 51,584 (3,654) (909) 40.00% (363) (1,461) - 1,461 - Sarpedon Empreendimentos Imobiliários Ltda (3) 0.00% Sarre Empreendimentos Imobiliários Ltda 79,488 88,969 (9,481) (551) 0.00% SCP Cyrela % Seina Empreendimentos Imobiliários Ltda 20,545 22,920 (2,375) (1,006) 50.00% (503) (1,187) - 1,187 - Simois Empreendimentos Imobiliários Ltda 48,833 46,629 2,204 3, % Soacha Empreendimentos Imobiliários Ltda 1,760 2,517 (757) (994) 0.01% SPE Accordes do Horto Empreendimentos Imobiliários T Ltda. 1,723 1, % SPE Accordes Jabotiana Empreendimentos Imobiliários T Ltda. 23,002 1,419 21, % SPE Accordes Universita Empreendimentos Imobiliários T Ltda. 29,249 1,041 28,207 (1,766) 0.00% SPE Arqui Farolândia Empreendimentos Imobiliários T. Ltda (1) 0.00% SPE Brisas Do Alto Empreendimentos Imobiliários T Ltda % SPE Caminho das Árvores Empreendimentos Imobiliários T Ltda. 3, ,207 (1) 0.00% SPE Centro Saúde J.M.S. Ltda. 7, ,672 (214) 0.00% SPE Condomínio Boulevard Gustavo Dantas Ltda 18,793 6,435 12, % SPE Estações Um Empreendimentos Imobiliários T Ltda. 4, , % SPE Juca Sampaio Empreendimentos Imobiliários T Ltda (6) 0.00% SPE Norcon Rossi Empreendimentos Imobiliários T Ltda (37) 0.00% SPE Quadra Cinco Empreendimentos Imobiliários T Ltda. 33,074 1,303 31,771 (2,234) 0.00% SPE Quadra Dois Empreendimentos Imobiliários T Ltda. 5, ,323 (3) 0.00% SPE Quadra Seis Primeiro Empreendimentos Imobiliários T Ltda. 3,408 2,123 1,285 (4) 0.00% SPE Quadra Três Empreendimentos Imobiliários T Ltda. 1, ,504 (1) 0.00% SPE Sancho Lote Cinco Empreendimentos Imobiliários T Ltda. 1,788 1, (1) 0.00% SPE Sancho Lote Dois Empreendimentos Imobiliários T Ltda (1) 0.00% SPE Sementeiras Empreendimentos Imobiliários T Ltda. 12, , % SPE Sítio Bacupari Empreendimentos Imobiliários T Ltda. 3,071 1,294 1,777 (11) 0.00% SPE Spazio Bello Empreendimentos Imobiliários T Ltda % SPE Vilas Da Aruana Empreendimentos Imobiliários T Ltda. 14, ,422 (1) 0.00% Talassa Empreendimentos Imobiliários Ltda 8, , % 58 5, ,646 Tapiriri Empreendimentos S/A 35,764 37,018 (1,254) (1) 50.00% - (627) Termesso Empreendimentos Imobiliários Ltda 23,854 6,583 17,271 2, % Tiberino Empreendimentos Imobiliários Ltda 131 2,371 (2,240) % - (2) Tibouchina Empreendimentos S/A 554 1,756 (1,202) (52) 50.00% (26) (601) Tintoria Empreendimentos S/A - 26 (26) % - (6) Tucupita Empreendimentos Imobiliários Ltda 33,145 33,782 (637) % - (1) Tumbergia Empreendimentos S/A 22, , % 10 10, ,961 Turmero Empreendimentos Imobiliários Ltda 7, ,588 (1) 0.00% Velberte Empreendimentos Imobiliários Ltda 56,375 47,742 8, % Vendeia Empreendimentos Imobiliários Ltda 22,995 8,185 14, % Visnaga Empreendimentos S/A 18,977 14,435 4, % 15 2, ,044 Zaraza Empreendimentos Imobiliários Ltda 40,338 38,566 1,771 2, % Excedente ao valor contábil na compra 89,290 89,290 Encargos capitalizados - Outros (2) (2,933) 2,776 (157) Subtotal Non-Subsidiaries 7,754,259 6,787,916 1,006,689 (51,511) (25,574) 473, ,460 91,688 1,202,626 Unconsolidated Companies São Tranquilino Empreendimentos Imobiliários Ltda 27,749 3,223 24, % - 6, ,898 Subtotal Uncontrolled Consolidated Companies 7,728,496 3,223 24, , ,898 Total Parent Company 20,506,076 18,333,443 2,172,658 (224,747) (203,885) 1,536, ,164 1,759,394 4,019, Total Consolidated 15,482,755 6,791,139 1,031,215 (51,511) (25,574) 480, ,491 91,688 1,209,524

76 76 Exhibit II Summary of the main information on related parties as at September 30, 2017 and December 31, 2016: Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Subsidiaries (Int) September 2017 December 2016 Parent Consolidated Parent Consolidated Abadir Empreendimentos Imobiliários Ltda 18, , Açafate Empreendimento S/A - 3, , Acalifa Empreendimentos S/A - 4, , Acauã Investimentos Imobiliários Ltda 5, Acer Participações S/A - 11, , Adiantum Empreendimentos Imobiliários Ltda Afelandra Empreendimentos S/A - 2, , Agerato Empreendimentos S/A 2, , Aglaonema Empreendimentos S/A - 13, , Alcea Empreendimentos Imobiliários Ltda - 96, , Aldrovandi Empreendimentos Imobiliários Ltda Alocasia Empreendimentos S/A 19, , Alpen Haus Negócios Imobiliários S/A - 2, , Alquemila Empreendimentos Imobiliários Ltda , Alteia Empreendimentos Imobiliários Ltda - 24, , Alternantera Empreendimentos Imobiliários Ltda 14, , América Properties Ltda 2, América Urbanismo S/A Anagalide Empreendimentos S/A 15, , Anapo Empreendimentos Imobiliários Ltda 3, , Aniene Empreendimentos Imobiliários Ltda - 1, , Anigro Empreendimentos Imobiliários Ltda , Anloga Empreendimentos Imobiliários Ltda 3, , Anteros Empreendimentos Imobiliários Ltda - 1, Antocleista Empreendimentos S/A - 3, , Apidano Empreendimentos Imobiliários Ltda 1, , Apuléia Empreendimentos Imobiliários Ltda , Araucaia Empreendimentos Imobiliários Ltda - 4, , Araure Empreendimentos Imobiliários Ltda 14, , Argentea Empreendimentos S/A 51, , Aristasia Empreendimentos Imobiliários Ltda Arkansas Empreendimentos Imobiliários Ltda , Artocarpus Empreendimentos Imobiliários Ltda Asopo Empreendimentos Imobiliários Ltda 1, , Astir Ass. Téc. Imob. Part. Ltda 62, , Atenor Empreendimentos Imobiliários Ltda 21, , Atromeia Empreendimentos S/A 2, , Auriculata Empreendimentos S/A 5, , Aven Empreendimentos Imobiliários Ltda - 26, , Bafira Empreendimentos Imobiliários Ltda 5, , Barão do Café Empreendimentos Imobiliários S/A BCP Empreendimentos Imobiliários Ltda - 11, , Belinda Empreendimentos Imobiliários Ltda 8, , Belisário Empreendimentos Imobiliários Ltda - 5, , Bidasoa Empreendimentos Imobiliários Ltda - 7, , Bisira Empreendimentos Imobiliários Ltda Bitinia Empreendimentos Imobiliários Ltda 21, , Bolero Empreendimentos S/A 20, , Bonina Empreendimentos Imobiliários Ltda Borago Empreendimentos S/A Bordo Empreendimentos Imobiliários Ltda 3, , Bouvardia Empreendimentos Imobiliários Ltda - 1, Bresbe Empreendimentos Imobiliários Ltda 1, , Brossasco Empreendimentos Imobiliários Ltda 4, , Brumalia Empreendimentos Imobiliários Ltda Brutio Empreendimentos Imobiliários Ltda 5, , Cabimas Empreendimentos Imobiliários Ltda , Caerulea Empreendimentos S/A - 10, , Cainara Empreendimentos Imobiliários Ltda Caliandra Incorporadora Ltda - 15, , Califórnia 5 Empreendimentos Imobiliários Ltda , Carimbosa Empreendimentos Imobiliários Ltda - 21, , Cartamus Empreendimentos Imobiliários Ltda 25, , Cartatica Empreendimentos Imobiliários Ltda - 14, , Catarantus Empreendimentos S/A 3, , Caudata Empreendimentos Imobiliários Ltda , Cedrela Empreendimentos Imobiliários Ltda - 1, , Celebrete Empreendimentos S/A 29, , Celebrete Empreendimentos S/A - SCP Celebrete 15, , Celebrity Icaraí Desenvolvimento Imobiliário Ltda ,

77 77 September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Wholly-owned subsidiaries Celebrity Icaraí Negócios Imobiliários Ltda 4, , Celeni Empreendimentos Imobiliários Ltda - 11, , Ceressa Empreendimentos Imobiliários Ltda 1, , Cheflera Empreendimentos Imobiliários Ltda - 9, , Chilodus Empreendimentos Imobiliários Ltda 8, , Cianus Empreendimentos S/A - 28, , Ciconia Empreendimentos Imobiliários Ltda - 3, , Cinara Empreendimentos S/A 9, , Climenia Empreendimentos Imobiliários Ltda 9, , Colocasia Empreendimentos Imobiliários Ltda - 1, , Colorata Empreendimentos Imobiliários Ltda - 2, Congea Empreendimentos Imobiliários Ltda , Congossa Empreendimentos Imobiliários Ltda - 1, , Consolda Empreendimentos Imobiliários Ltda - 2, , Coribante Empreendimentos Imobiliários Ltda Cravina Empreendimentos S/A 14, , Daciano Empreendimentos Imobiliários Ltda Damiane Empreendimentos Imobiliários Ltda 18, , Dangila Empreendimentos Imobiliários Ltda 13, , Del Monte Desenvolvimento Imobiliário Ltda - 3, , Del Monte Negócios Imobiliários S/A Delcine Empreendimentos Imobiliários Ltda Dessau Empreendimentos Imobiliários Ltda 88, , Diantus Empreendimentos S/A 31, , Diomedes Empreendimentos Imobiliários Ltda Diomen Empreendimentos Imobiliários Ltda Dipladênia Empreendimentos Imobiliários Ltda - 2, , Dirito Empreendimentos Imobiliários Ltda 2, , Dorinda Empreendimentos Imobiliários Ltda Doubs Empreendimentos Imobiliários Ltda - 5, , Dranci Empreendimentos Imobiliários Ltda 12, , Driope Empreendimentos Imobiliários Ltda - 1, , Dunedine Empreendimentos Imobiliários Ltda 27, , Eitorfe Empreendimentos Imobiliários Ltda 10, , Elida Empreendimentos Imobiliários Ltda - 16, , Empreendimento Imobiliário Jaguaré SPE Ltda - 24, , Entradero Empreendimentos Imobiliários Ltda Equinacia Empreendimentos S/A 4, , Ercilio Empreendimentos Imobiliários Ltda Erimanto Empreendimentos Imobiliários Ltda , Erinus Empreendimentos S/A 9, , Escabiosa Empreendimentos S/A Escalda Empreendimentos Imobiliários Ltda 10, , Estrumosa Empreendimentos S/A 6, , Etolia Empreendimentos Imobiliários Ltda - 5, , Euforbia Empreendimentos S/A Euriabe Empreendimentos S/A Eustoma Empreendimentos S/A Fabrice Empreendimentos Imobiliários Ltda 2, , Faon Empreendimentos Imobiliários Ltda Fasciata Empreendimentos Imobiliários Ltda 3, , Florença Participações S/A 1, , Frigia Empreendimentos Imobiliários Ltda Galeria Boulevard Desenvolvimento Imobiliário S/A - 4, , Galeria Boulevard Negócios Imobiliários S/A - 13, , Galeso Empreendimentos Imobiliários Ltda 21, , Ganges Empreendimentos Imobiliários Ltda 1, , Garden Up Desenvolvimento Imobiliário Ltda - 1, , Garden Up Negócios Imobiliários S/A Gazania Empreendimentos Imobiliários Ltda , General Rondon Incorporadora Ltda Gestia Empreendimentos S/A - 2, , Giardino Desenvolvimento Imobiliário S/A Giardino Empreendimentos Imobiliários S/A Girassol Incorporadora Ltda 1, , Glicínia Desenvolvimento Imobiliário Ltda - 3, , Glinde Empreendimentos Imobiliários Ltda - 1, , Gonfrena Empreendimentos Imobiliários Ltda - 65, , Grandiflora Empreendimentos Imobiliários Ltda Gustávia Empreendimentos S/A

78 78 September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Wholly-owned subsidiaries Helicônias Desenvolvimento Imobiliário Ltda Hirtela Empreendimentos Imobiliários Ltda , Iberidifolia Empreendimentos Imobiliários Ltda - 23, , Ibero Empreendimentos Imobiliários Ltda 6, , Imbrasco Empreendimentos Imobiliários Ltda - 8, , Indre Empreendimentos Imobiliários Ltda - 6, , Ipomoea Empreendimentos Imobiliários Ltda - 3, , Iturbe Empreendimentos Imobiliários. Ltda 1, , Jamino Empreendimentos Imobiliários Ltda 2, , Jardim das Margaridas Empreendimentos imobiliários Ltda - 8, , Jetirana Empreendimentos S/A - 18, , Kansas Empreendimentos Imobiliários Ltda Lacio Empreendimentos Imobiliários Ltda 2, , Lacrima Empreendimentos Imobiliários Ltda 2, , Lagos Empreendimentos S/A Laion Empreendimentos Imobiliários Ltda - 1, Liepaja Empreendimentos Imobiliários Ltda Linania Empreendimentos Imobiliários Ltda 47, , Linum Empreendimentos Imobiliários Ltda - 8, , Lobelia Empreendimentos S/A 4, , Lobulama Empreendimentos Imobiliários Ltda - 4, , Lonicera Empreendimentos Imobiliários Ltda - 6, , Malvaisco Empreendimentos Imobiliários Ltda - 5, , Mandevila Empreendimentos Imobiliários Ltda Mansoa Empreendimentos Imobiliários Ltda Marianinha Empreendimentos S/A Matioca Empreendimentos Imobiliários Ltda 28, , Melampodio Empreendimentos S/A 1, , Mesembrianteme Empreendimentos Imobiliários Ltda , Mincio Empreendimentos Imobiliários Ltda - 8, , Minulo Empreendimentos S/A - 49, , Molie Empreendimentos Imobiliários Ltda 1, , Monstera Empreendimentos S/A 9, , Moscatu Empreendimentos S/A - 60, , Naiades Empreendimentos Imobiliários Ltda 3, , Nenufar Empreendimentos Imobiliários Ltda - 4, , Nepeta Empreendimentos S/A - 26, , Nicandra Empreendimentos S/A - 74, , Nicotiana Empreendimentos Imobiliários Ltda 3, , Nicuri Empreendimentos Imobiliários Ltda - 1, , Nidus Empreendimentos S/A - 28, , Nievre Empreendimentos Imobiliários Ltda 17, , Nigra Empreendimentos S/A Oelde Empreendimentos Imobiliários Ltda 4, , Olerácea Empreendimentos S/A Onagra Empreendimentos Imobiliários Ltda , Orquídea Incorporadora Ltda 30, , Pachira Empreendimentos Imobiliários Ltda - 2, , Pacino Empreendimentos Imobiliários Ltda 2, , Paludosum Empreendimentos Imobiliários Ltda 5, , Panaque Empreendimentos Imobiliários Ltda - 19, , Papoila Empreendimentos S/A - 5, , Pepo Empreendimentos S/A 1, , Perpetuas Empreendimentos Imobiliários Ltda - 8, , Pervinca Empreendimentos S/A 13, , Piper Empreendimentos S/A Piracanta Empreendimentos S/A Plinia Empreendimentos Imobiliários Ltda - 6, , Plomeu Empreendimentos Imobiliários Ltda Poejo Empreendimentos Imobiliários Ltda , Porto Paradiso Incorporadora S/A 1, , Pozuoli Empreendimentos Imobiliários Ltda Praça Capital Negócios Imobiliários Ltda - 12, , Praça Paris Incorporadora S/A 4, , Prelude Empreendimentos S/A , Pulchela Empreendimentos S/A 5, , Purpurata Empreendimentos S/A - 6, , Quadra B-3 Incorporadora Ltda 4, , Quenopodio Empreendimentos S/A Quibor Empreendimentos Imobiliários Ltda 3, ,

79 79 September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Wholly-owned subsidiaries Raniona Empreendimentos Imobiliários Ltda 26, , RCI Consultoria de Imóveis Ltda - 4, , Recreio Desenvolvimento Imobiliário Ltda - 14, , Recreio Empreendimentos Imobiliários Ltda - 7, , Rilstone Empreendimentos Imobiliários Ltda - 1, , Risaralda Empreendimentos Imobiliários Ltda - 1, , Rodolita Empreendimentos Imobiliários Ltda Rosalba Empreendimentos Imobiliários Ltda Rossi Consultoria de Imóveis Ltda 11, , Rossi Ind. de Art. de Concreto Ltda 21, , Rossi Montante Incorporadora S/A 8, , Rossi Morumbi Incorporadora S/A 10, , Rossi Oscar Porto Incorporadora Ltda - 84, , Rossi Securities Empreendimentos Imobiliários Ltda - 6, , Rossi Trust e Participações Ltda - 4, , RRTI Desenvolvimento Imobiliário Ltda - 15, , Rubrum Empreendimentos Imobiliários Ltda 9, , Rype SPE 3 - Empreendimentos Imobiliário Ltda Sabanalarga Empreendimentos Imobiliários Ltda - 3, , Sambre Empreendimentos Imobiliários Ltda 1, , Sândalo Desenvolvimento Imobiliário Ltda - 42, , Sândalo Empreendimentos Ltda , Sanderae Empreendimentos Imobiliários Ltda 31, , Sanquezia Empreendimentos Imobiliários Ltda 12, , Santa Agia Empreendimentos Imobiliários Ltda 3, , Santa Alice Empreendimentos Imobiliários Ltda 1, , Santa Amanda Empreendimentos Imobiliários Ltda - 13, , Santa Apolonia Empreendimentos Imobiliários Ltda - 36, , Santa Aurelia Empreendimentos Imobiliários Ltda - 5, , Santa Camila Empreendimentos Imobiliários Ltda 1, , Santa Capitolina Empreendimentos Imobiliários Ltda 4, , Santa Caridade Empreendimentos Imobiliários Ltda Santa Celestina Empreendimentos Imobiliários Ltda 23, , Santa Dionisia Empreendimentos Imobiliários Ltda 5, , Santa Doroteia Empreendimentos Imobiliários Ltda - 1, , Santa Duna Empreendimentos Imobiliários Ltda 3, , Santa Edite Empreendimentos Imobiliários Ltda 4, , Santa Esperança Empreendimentos Imobiliários Ltda 13, , Santa Estefania Empreendimentos Imobiliários Ltda , Santa Eufrosina Empreendimentos Imobiliários Ltda - 1, , Santa Exuperia Empreendimentos Imobiliários Ltda 3, , Santa Flavia Empreendimentos Imobiliários Ltda - 2, , Santa Francisca Empreendimentos Imobiliários Ltda 3, , Santa Genoveva Empreendimentos Imobiliários Ltda Santa Gontilda Empreendimentos Imobiliários Ltda 9, , Santa Iza Empreendimentos Imobiliários Ltda - 1, , Santa Justina Empreendimentos Imobiliários Ltda Santa Manuela Empreendimentos Imobiliários Ltda Santa Margarete Empreendimentos Imobiliários Ltda Santa Marianela Empreendimentos Imobiliários S/A Santa Matilda Empreendimentos Imobiliários Ltda - 15, , Santa Maura Empreendimentos Imobiliários Ltda - 3, , Santa Melania Empreendimentos Imobiliários Ltda 16, , Santa Narcisa Empreendimentos Imobiliários Ltda Santa Natalia Empreendimentos Imobiliários Ltda Santa Nina Empreendimentos Imobiliários Ltda - 3, , Santa Noemia Empreendimentos Imobiliários Ltda 19, , Santa Odete Empreendimentos Imobiliários Ltda - 2, , Santa Odilia Empreendimentos Imobiliários Ltda , Santa Olga Empreendimentos Imobiliários Ltda - 29, , Santa Otavia Empreendimentos Imobiliários Ltda , Santa Paloma Empreendimentos Imobiliários Ltda , Santa Patrícia Empreendimentos Imobiliários Ltda 9, , Santa Rafaela Empreendimentos Imobiliários Ltda 5, , Santa Ruth Empreendimentos Imobiliários Ltda - 5, , Santa Sabina Empreendimentos Imobiliários Ltda - 6, , Santa Susana Empreendimentos Imobiliários S/A 5, , Santa Taciana Empreendimentos Imobiliários Ltda 1, Santa Tarcila Empreendimentos Imobiliários Ltda 19, , Santa Teodata Empreendimentos Imobiliários Ltda 8, ,

80 80 September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Wholly-owned subsidiaries Santa Zenaide Empreendimentos Imobiliários Ltda 13, , Santa Zenobia Empreendimentos Imobiliários Ltda - 3, , Santa Zita Empreendimentos Imobiliários Ltda 5, , Santa Priscila Empreendimentos Imobiliários Ltda - 8, , Santo Anastacio Empreendimentos Imobiliários S/A - 12, , Santo Angelo Empreendimentos Imobiliários Ltda - 10, , Santo Antão Empreendimentos Imobiliários Ltda 1, , Santo Eduardo Empreendimentos Imobiliários Ltda 11, , Santo Elias Empreendimentos Imobiliários Ltda 2, , Santo Erasmo Empreendimentos Imobiliários Ltda - 44, , Santo Estanislau Empreendimentos Imobiliários Ltda 16, , Santo Estevão Empreendimentos Imobiliários Ltda - 5, , Santo Eugenio Empreendimentos Imobiliários Ltda - 3, , Santo Eusebio Empreendimentos Imobiliários Ltda 2, , Santo Evaristo Empreendimentos Imobiliários Ltda 23, , Santo Expedito Empreendimentos Imobiliários S/A , Santo Humberto Empreendimentos Imobiliários Ltda 3, , Santo Inacio Empreendimentos Imobiliários Ltda 6, , Santo Irineu Empreendimentos Imobiliários Ltda - 4, , Santo Lorenzo Empreendimentos Imobiliários Ltda - 8, , Santo Uriel Empreendimentos Imobiliários Ltda 10, , São Beltran Empreendimentos Imobiliários Ltda 4, , São Benildo Empreendimentos Imobiliários Ltda 1, , São Bertino Empreendimentos Imobiliários Ltda 6, , São Bessario Empreendimentos Imobiliários Ltda São Braulio Empreendimentos Imobiliários Ltda - 3, , São Caemon Empreendimentos Imobiliários Ltda São Celestino Empreendimentos Imobiliários Ltda São Cesario Empreendimentos Imobiliários Ltda 4, , São Cornelio Empreendimentos Imobiliários Ltda - 1, São Crisanto Empreendimentos Imobiliários Ltda 6, , São Crispim Empreendimentos Imobiliários Ltda 6, , São Crispiniano Empreendimentos Imobiliários Ltda 43, , São Dionisio Empreendimentos Imobiliários Ltda 4, , São Geraldo Empreendimentos Imobiliários Ltda. - 1, , São Gerôncio Empreendimentos Imobiliários Ltda São Gonzalo Empreendimentos Imobiliários Ltda 2, , São Loureano Empreendimentos Imobiliários Ltda 4, , São Mancio Empreendimentos Imobiliários Ltda 22, , São Marçal Empreendimentos Imobiliários Ltda São Marcelino Empreendimentos Imobiliários Ltda 9, , São Martim Empreendimentos Imobiliários Ltda - 1, , São Mauricio Empreendimentos Imobiliários Ltda 55, , São Mucio Empreendimentos Imobiliários Ltda 1, , São Nicodemus Empreendimentos Imobiliários Ltda - 2, , São Procopio Empreendimentos Imobiliários Ltda 6, , São Quirino Empreendimentos Imobiliários Ltda São Remigio Empreendimentos Imobiliários Ltda - 4, , São Ricardo Empreendimentos Imobiliários Ltda 1, , São Severino Empreendimentos Imobiliários Ltda 4, , São Teodorico Empreendimentos Imobiliários Ltda 2, , São Teofilo Empreendimentos Imobiliários Ltda 1, , São Norberto Empreendimentos Imobiliários Ltda 1, , São Prudencio Empreendimentos Imobiliários Ltda Sarapo Empreendimentos Imobiliários Ltda 2, , Saratoga Empreendimentos Imobiliários Ltda 5, , Sarita Empreendimentos Imobiliários Ltda 1, , SCP Alegro - Araucaia Empreend SCP Cotegipe - Araucaia Empreend. - 17, , SCP Fabrice - Fabrice Empreendimentos Imobiliários Ltda Sempreflores Empreendimentos Imobiliários Ltda , Senecio Empreendimentos Imobiliários Ltda , Sinuatum Empreendimentos Imobiliários Ltda 20, , Sisiano Empreendimentos Imobiliários Ltda Sogamoso Empreendimentos Imobiliários Ltda SPE Alto da Boa Vista Empreendimentos Imobiliários T Ltda - 3, , SPE Condomínio Jardins da França Ltda - 2, , SPE Condomínio Recanto das Árvores Ltda - 8, , SPE Condomínio Vila Das Artes Ltda 4, , SPE Parque Sementeiras Empreendimentos Imobiliários T Ltda 5, ,

81 81 September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Wholly-owned subsidiaries SPE Pier Empreendimentos Imobiliários Ltda - 19, , Tacarigua Empreendimentos Imobiliários Ltda Tadorna Empreendimentos Imobiliários Ltda Tainacam Empreendimentos Imobiliários Ltda 9, , Tanais Empreendimentos Imobiliários Ltda 5, , Tauranga Empreendimentos Imobiliários Ltda 19, , Temiscira Empreendimentos Imobiliários Ltda Tenela Empreendimentos S/A - 8, , Tessalia Empreendimentos Imobiliários Ltda 11, , Teutrania Empreendimentos Imobiliários Ltda 4, , Tieze Empreendimentos Imobiliários Ltda - 2, Tindaro Empreendimentos Imobiliários Ltda - 2, , Trevoro Empreendimentos Imobiliários Ltda 2, , Troade Empreendimentos Imobiliários Ltda - 4, , Trombeta Empreendimentos Imobiliários Ltda 43, , Tulipa Incorporadora Ltda - 1, , Tunico Empreendimentos Imobiliários Ltda 6, , Uribia Empreendimentos Imobiliários Ltda - 5, , Vernante Empreendimentos S/A 6, , Vicença Empreendimentos Imobiliários Ltda - 2, , Vigo Empreendimentos S/A - 1, , Vila Albani Empreendimentos Imobiliários Ltda , Vila Flora Hortolândia Empreendimentos Imobiliários Ltda - 35, , Vinadio Empreendimentos Imobiliários Ltda 5, , Viterbo Empreendimentos Imobiliários Ltda 26, , Vitis Empreendimentos S/A - 28, , Zaculeu Empreendimentos Imobiliários Ltda - 5, , Zadoque Empreendimentos Imobiliários Ltda 15, , September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Subsidiaries due to management of core activities Abeguar Empreendimentos Imobiliários Ltda 1, Aisne Empreendimentos Imobiliários Ltda América Piqueri Incorporadora S/A Anabi Empreendimentos Imobiliários Ltda Arundina Empreendimentos Imobiliários Ltda Condominio das Palmeiras Desenvolvimento Imobiliário S/A - 1, , Ibicela Empreendimentos S/A 2, Marshall Empreendimentos Ltda - 4, , Ramizeri Empreendimentos Imobiliários Ltda Rossi Consultoria de Imóveis Aracajú Ltda - 1, , Talauma Empreendimentos S/A

82 82 September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Non-controlled subsidiaries Abante Empreendimentos Imobiliários Ltda Acalantis Empreendimentos Imobiliários Ltda ,584-1,584 - Acaulis Empreendimentos S/A Adoncia Empreendimentos Imobiliários Ltda Afragola Empreendimentos Imobiliários Ltda Aliberti Empreendimentos S/A - 1,381-1,381-1,369-1,369 Alzete Empreendimentos Imobiliários Ltda - 10,989-10,989-11,090-11,090 Amarelinha Empreendimentos S/A - 4,101-4,101-3,892-3,892 Anadia Empreendimentos Imobiliários Ltda 5, ,761-5,761 - Aneliasia Empreendimentos S/A 1,026-1,072-1,026-1,026 - Anemone Empreendimentos S/A Anona Empreendimentos S/A Apolda Empreendimentos Imobiliários Ltda - 8,208-8,337-7,240-7,369 Ardisia Empreendimentos S/A - 44,523-48,684-45,013-49,174 Aretusa Empreendimentos Imobiliários Ltda - 1,943-2,162-1,731-1,731 Arquitotis Empreendimentos Imobiliários Ltda - 5, ,557-5,557 Asistásia Empreendimentos S/A Asmiscada Empreendimentos S/A 2, Astilbe Empreendimentos Imobiliários Ltda Avinon Empreendimentos Imobiliários Ltda - 1,375-1,542-1,556-1,723 Baça Empreendimentos Imobiliários Ltda Baceiro Empreendimentos Imobiliários Ltda Basilico Empreendimentos S/A 1, ,088-1,088 - Batuira Empreendimentos Imobiliários Ltda - 4,684-4, Beaumontia Empreendimentos S/A - 5, ,978-4,980 Berilo Empreendimentos Imobiliários Ltda 1,661-1,661-1,661-1,661 - Bétula Empreendimentos S/A - 8,630-8,630-8,630-8,630 Bom Sucesso Incorporação e Investimentos Imobiliários S/A 1,272-1,623-2,176-2,429 - Brassica Empreendimentos S/A - 3,158-3,131-2,702-2,674 Bucaramanga Empreendimentos Imobiliários Ltda Cairica Empreendimentos Imobiliários Ltda

83 83 September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Non-controlled subsidiaries Calabozo Empreendimentos Imobiliários Ltda Calaminta Empreendimentos S/A 2, , Calibracoa Empreendimentos S/A 3, ,147-2,147 - Caliméria Empreendimentos Imobiliários Ltda 4,538-3,557-4,520-3,455 - Campanula Empreendimentos S/A Capisicum Empreendimentos Imobiliários Ltda Capital Rossi Empreendimentos S/A - 273, , , ,471 Cariniana Empreendimentos S/A - 8, ,563-8,563 Cartaxo Empreendimentos Imobiliários Ltda Cefisso Empreendimentos Imobiliários Ltda 2,221-2,323-1,706-1,808 - Centela Empreendimentos S/A Ciclame Desenvolvimento Imobiliário S/A - 19,800-20,145-19,800-19,800 Ciclame Empreendimentos S/A - 2,097-2,097-2,127-2,127 Citero Empreendimentos Imobiliários Ltda - 19,114-16,317-19,200-16,403 Clarence Empreendimentos Imobiliários Ltda Cleomeia Empreendimentos S/A 1,459-1,459-1,458-1,458 - Coreópisis Empreendimentos S/A - 5,365-5,379-4,655-4,669 Coriandrum Empreendimentos S/A Costa São Caetano Empreendimentos S/A 4,537-4,543-4,782-4,789 - Courgete Empreendimentos S/A - 5,992-5,992-6,016-6,016 Cruá Empreendimentos S/A 3, ,197-3,197 - Cumbria Empreendimentos Imobiliários Ltda - 3,097-2,275-3,138-2,477 Dalia Empreendimentos Imobiliários Ltda , ,221 Damacena Empreendimentos S/A - 76,995-94,935-67,115-94,667 Demetris Empreendimentos Imobiliários Ltda Deodoro Empreendimentos Imobiliários Ltda Difusa Empreendimentos S/A Dinarte Empreendimentos Imobiliários Ltda Duarte - Edificio Vila Boa Vista Ltda 1,415-1,415-1,409-1,409 - Dueto Desenv. Imobiliário Ltda Dueto Negócios Imobiliários S/A Egeon Empreendimentos Imobiliários Ltda Elvas Empreendimentos Imobiliários Ltda 2,358-7,379-2,992-8,174 - Embua Empreendimentos Imobiliários Ltda 1, ,204-1,204 - Enipeu Empreendimentos Imobiliários Ltda - 5,942-5,743-6,047-5,941 Erasino Empreendimentos Imobiliários Ltda Eridano Empreendimentos Imobiliários Ltda 2,707-2,801-2,474-2,363 - Erioteca Empreendimentos S/A 1,091-1, Esepo Empreendimentos Imobiliários Ltda - 25,337-25,597-25,393-25,653 Estrimon Empreendimentos Imobiliários Ltda Evre Empreendimentos Imobiliários Ltda Fucsia Empreendimentos S/A - 2,333-2,262-30,185-30,770 Glicínia Empreendimentos S/A 1, , Graminea Empreendimentos S/A Ideal Matão Negócios Imobiliários Ltda 1,660-1,660-1,300-1,300 - Incana Empreendimentos S/A - 7,224-6,001-7,224-6,001 Londres Empreendimentos S/A 6,635-7,792-6,969-8,126 - Machiques Empreendimentos Imobiliários Ltda 198-2, ,353 - Malmequer Empreendimentos S/A 8,539-8,539-8,540-8,540 - Mandarim Empreendimentos Imobiliários Ltda - 11,084 1, ,462 2,999 - Mergonia Empreendimentos S/A ,306-2,306 - Messina Incorporação SPE Ltda , ,130 Mucuna Empreendimentos S/A 4,960-5,350-4,852-5,242 - Norcon Rossi Empreendimentos. S/A - 126, , , ,255 North York Negócios Imobiliários S/A Peônia Empreendimentos Imobiliários S/A 3,821-3,821-3,638-3,638 - Pinhel Empreendimentos Imobiliários Ltda ,333 - Pirna Empreendimentos Imobiliários Ltda 2,100-1,752-1,745-1,187 - Praça Capital Desenvolvimento Imobiliário Ltda 9, ,941-9,941 - Prunus Empreendimentos S/A Pumila Empreendimentos S/A - 3, ,367-3,365 RCG Urbanismo Ltda 2,830-2,830-1,474-1,714 - Realengo SPE Empreendimento Imobiliário S/A Rivulo Empreendimentos Imobiliários Ltda Rossi Melnick Desenvolvimento Imobiliário S/A Rossi Melnick Empreendimentos S/A Rossi S/A - SCP Guarujá Salmiana Empreendimentos S/A - 5,928-5,928-5,654-5,654 Sangario Empreendimentos Imobiliários Ltda - 15,677-15,714 4,804-4,764 - Santa Adelvina Empreendimentos Imobiliários Ltda - 19,599-19,640-19,625-19,665

84 84 September 2017 December 2016 Parent Consolidated Parent Consolidated Companies Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Non-controlled subsidiaries Santa Agape Empreendimentos Imobiliários Ltda - 3, ,095-4,096 Santa Anastácia Empreendimentos Imobiliários Ltda Santa Aurora Empreendimentos Imobiliários Ltda - 1,829-1,829-1,829-1,829 Santa Beatriz Empreendimentos Imobiliários Ltda 27,323-27,198-28,072-27,937 - Santa Cassilda Empreendimentos Imobiliários Ltda Santa Cordelia Empreendimentos Imobiliários Ltda Santa Emereciana Empreendimentos Imobiliários Ltda Santa Enriqueta Empreendimentos Imobiliários Ltda 9,088-8,407-8,668-8,668 - Santa Giana Empreendimentos Imobiliários Ltda Santa Gisela Empreendimentos Imobiliários Ltda ,945-3,945 - Santa Humbelina Empreendimentos Imobiliários Ltda Santa Kilian Empreendimentos Imobiliários Ltda - 21,452-21,458-19,787-19,788 Santa Leoncia Empreendimentos Imobiliários Ltda - 1,346-1, Santa Lucrecia Empreendimentos Imobiliários Ltda ,003-5,003 - Santa Silvana Empreendimentos Imobiliários Ltda 1,670-1,670-1,670-1,670 - Santa Silvia Empreendimentos Imobiliários Ltda - 1, , Santa Sofia Empreendimentos Imobiliários Ltda 7,175-7,146-7,141-7,112 - Santa Veronica Empreendimentos Imobiliários Ltda Santo Agostinho Empreendimentos Imobiliários Ltda 14,201-14,193-14,320-14,311 - Santo Alberto Empreendimentos Imobiliários Ltda 5,599-4,182-5,555-4,139 - Santo Amadeu Empreendimentos Imobiliários Ltda - 44,771-44,771-44,289-44,289 Santo Anatolio Empreendimentos Imobiliários Ltda Santo Artemio Empreendimentos Imobiliários Ltda - 19,113-19,113-18,646-18,646 Santo Egidio Empreendimentos Imobiliários Ltda 13,592-13,680-13,548-13,549 - Santo Exuperancio Empreendimentos Imobiliários Ltda - 3, ,949-4,029 Santo Ildefonso Empreendimentos Imobiliários Ltda Santo Indalecio Empreendimentos Imobiliários Ltda Santo Orlando Empreendimentos Imobiliários Ltda - 2,314 1, ,314 1,180 - São Basilio Empreendimentos Imobiliários Ltda - 6,983-8,286-6,973-8,276 São Constantino Empreendimentos Imobiliários Ltda São Daniel Empreendimentos Imobiliários Ltda 231-2, São Felix Empreendimentos Imobiliários Ltda 2,775-2,775-2,775-2,775 - São Fiacre Empreendimentos Imobiliários Ltda - 1,778-1,782-1,780-1,780 São Fidelis Empreendimentos Imobiliários Ltda - 3,064-2,680-2,987-2,769 São Hipolito Empreendimentos Imobiliários Ltda 2,499-2,381-2,550-2,549 - São Licinio Empreendimentos Imobiliários Ltda São Raimundo Empreendimentos Imobiliários Ltda São Teobaldo Empreendimentos Imobiliários Ltda São Tranquilino Empreendimentos Imobiliários Ltda - 2, ,991-3,140 Sarpedon Empreendimentos Imobiliários Ltda Sarre Empreendimentos Imobiliários Ltda - 15,148-15,150-15,245-15,246 Seina Empreendimentos Imobiliários Ltda - 3,201-2,770-2,226-2,144 Simois Empreendimentos Imobiliários Ltda 5,251-5,251-5,091-5,091 - Soacha Empreendimentos Imobiliários Ltda Sobradinho I Desenvolvimento Imobiliário Ltda SPE Accordes do Horto Empreendimentos Imobiliários T Ltda SPE Accordes Jabotiana Empreendimentos Imobiliários T Ltda SPE Accordes Universita Empreendimentos Imobiliários T Ltda SPE Caminho das Árvores Empreendimentos Imobiliários T Ltda SPE Centro Saúde J.M.S. Ltda - 1,522-1,522-1,522-1,522 SPE Condomínio Boulevard Gustavo Dantas Ltda 4,339-4,339-4,339-4,339 - SPE Quadra Cinco Empreendimentos Imobiliários T Ltda SPE Quadra Dois Empreendimentos Imobiliários T Ltda SPE Quadra Seis Primeiro Empreendimentos Imobiliários T Ltda SPE Sancho Lote Cinco Empreendimentos Imobiliários T Ltda SPE Sementeiras Empreendimentos Imobiliários T Ltda SPE Sítio Bacupari Empreendimentos Imobiliários T Ltda SPE Vilas Da Aruana Empreendimentos Imobiliários T Ltda Talassa Empreendimentos Imobiliários Ltda Tapiriri Empreendimentos S/A 35, ,474-35,474 - Tiberino Empreendimentos Imobiliários Ltda 2,029-2,029-2,029-2,029 - Tibouchina Empreendimentos S/A ,029-1,029 - Tucupita Empreendimentos Imobiliários Ltda 1,105-5,889-1,106-5,889 - Tumbergia Empreendimentos S/A - 1,278-1,278-1,278-1,278 Turmero Empreendimentos Imobiliários Ltda Velberte Empreendimentos Imobiliários Ltda Visnaga Empreendimentos S/A Volturno Empreendimentos Imobiliários Ltda Zaraza Empreendimentos Imobiliários Ltda Other 5,300 47,389 2,321 6,051 8,004 1,178 15,581 38,969 1,973,989 2,445, , ,894 2,044,678 2,482, , ,297

85 ***** 85

86 Conference Call São Paulo, November 13, Rossi Residencial S.A. (BM&FBovespa: RSID3; OTC: RSRZY; Bloomberg: RSID3 BZ Equity), announces its results for the third quarter of RSID3: R$ 6.55 per share OTC: RSRZY Total number of shares: 17,153,337 Market Value: R$112.4 MM 158% increase in net sales (Rossi %) in 9M17 vs. 9M16 Reselling rate of 71% for cancelled units in % drop in Operating Expenses in 9M17 vs. 9M16 R$ 15.1 million cash generation in 100% view November 14, 2017 In Portuguese with simultaneous translation 10 a.m. (Brasília) / 7 a.m. (US ET) Phone: (+1 516) Conference ID: Rossi Replay (available until November 20, 2017): Access Code: (+55 11) Password: Investor Relations Team ri@rossiresidencial.com.br +55 (11)