Material Fact

Barueri, October 25, 2018 - Multiplus S.A. (B3: MPLU3) ("Company"), pursuant to Law No. 6.404/76 ("Corporation Law") and to the Brazilian Securities’ Commission ("CVM") Instruction No. 358, dated January 3, 2002, both as amended, hereby informs its shareholders and the market in general that:

As informed in the Material Fact dated October 4, 2018, TAM Linhas Aéreas S.A. ("Offeror"), filed on that date before the CVM the registration request of the Unified Public Tender Offer to Acquire the Company’s Common Shares for purposes of the Delisting of the Company and Exit from the Novo Mercado ("Tender Offer"), pursuant to paragraph 4th, Article 4th of the Corporation Law, CVM Instruction No. 361, dated March 5, 2002 ("CVM Instruction 361/2002") and the Novo Mercado Regulations.

Pursuant to paragraph 4th, Article 4th of the Corporation Law and articles 8th and 16 and its paragraphs of CVM Instruction 361/2002, the Offeror retained Banco de Investimentos Credit Suisse (Brasil) S.A. ("Appraiser") to prepare the Company’s appraisal report ("Appraisal Report").

Further to the Material Fact dated October 4, 2018, the Company hereby informs that the Offeror has filed before the CVM, on this date, the Appraisal Report prepared by the Appraiser.

Pursuant to paragraph 5th, Article 8th of CVM Instruction 361/2002, the Appraisal Report is available, as of this date, to any interested parties in the following locations:

COMISSÃO DE VALORES MOBILIÁRIOS (CVM)
Rua Sete de Setembro, nº 111, 2º andar, Centro de Consultas a Documentos - Rio de Janeiro, RJ
www.cvm.gov.br
Click on "Central de Sistemas" in the homepage, then click on "Ofertas Públicas", click on "OPA - Oferta Pública de Aquisição de Ações", click on "Em Análise, "and click on "Multiplus S.A."

B3 S.A. - BRASIL, BOLSA, BALCÃO
Praça Antonio Prado, 48, Centro - São Paulo, SP
http://www.b3.com.br

CREDIT SUISSE (BRASIL) S.A. CORRETORA DE TÍTULOS E VALORES MOBILIÁRIOS
Rua Leopoldo Couto de Magalhães Jr., 700, 10º andar (parte) e 12º a 14º andares (partes) - São Paulo, SP
https://www.cshg.com.br/site/publico/investment/ofertas.seam

MULTIPLUS S.A.
Alameda Xingu, nº 350, conjuntos 1501 a 1504, 1701 e 1702, Condomínio iTower Iguatemi, Alphaville - Barueri, SP
http://ri.pontosmultiplus.com.br

Without prejudice to the analysis by the interested parties of the complete Appraisal Report, available as set forth above, which contains relevant and detailed information regarding the methodologies used and assumptions adopted, we hereby inform you that the result of the appraisal, pursuant to the dividend discount model ("DDM"), which was considered by the Appraiser as the most adequate to determine the price range of the Company’s shares, was of R$15.23 to R$16.75 per common share of the Company, so that the price of R$27.22 per share determined by the Offeror in the scope of the Tender Offer, as informed in the Material Fact dated September 4, 2018, is above the range determined in the Appraisal Report pursuant to the DDM model.

The term to present the request pursuant paragraph 1st of article 4-A of the Corporation Law will expire on November 9, 2018.

The Company will keep the market and its shareholders informed of the matters in this Material Fact. This Material Fact is exclusively for information purposes and does not constitute an offer to acquire securities.

Click here for the Material Fact.

Click here to view the Evaluation Report (Portuguese only).

Barueri/SP, October 25th, 2018.

Ronald Domingues
Financial and Investor Relations Director
Multiplus S.A.