Circular Letter CVM/SIN 04/2016

SECURITIES COMMISSION OF BRAZIL
Rua Sete de Setembro, 111/2-5th and 23-34th Floors – Center – Rio de Janeiro - RJ – ZIP: 20050-901 – Brazil Tel.: (21) 3554-8686 - www.cvm.gov.br Circular Letter No. 4/2016/SIN/CVM Rio de Janeiro, May 23, 2016. To Administrators of Real Estate Investment Funds (“FII”) Subject: Submission of Periodic and Occasional Information of FII

Dear Sirs,

1. We refer to the obligation imposed by CVM Instruction No. 472/08 regarding the submission of periodic and occasional information of FII.

2. We inform that starting from June 1, 2016, the submission of such information will be carried out exclusively through the Fundos.Net System - https://fnet.bmfbovespa.com.br/fnet/login.

3. In this sense, the submission of periodic and occasional information to CVM and to BM&FBovespa will be carried out through a single channel, so that it will no longer be necessary, or permitted, to submit such information through distinct mechanisms.

4. Furthermore, considering articles 40 and 42 of CVM Instruction No. 472/08, which also determines the disclosure of such information on the administrator's page on the worldwide computer network, in a prominent place and available for free access, we alert that the availability of such information on their respective pages should only be carried out after the submission of the documents to the Fundos.Net System, in order to guarantee simultaneous access by the market to the information of the real estate funds.

5. Annex B, related to Circular Letter SIN No. 5/2013, will continue to be due until the availability of the XML standard of the Monthly Report (art. 39, I, of CVM Instruction No. 472/08) and the submission by all market participants using this format. The method of submission of said Annex B remains the same, namely through the email infomensalfii@cvm.gov.br, observing the established deadline of up to 15 (fifteen) days after the closing of the reference month.

6. For additional clarifications, we request contacting the Management of Monitoring of Structured Funds - GIE, through the electronic address gie@cvm.gov.br.

Sincerely,

DANIEL WALTER MAEDA BERNARDO
Superintendent of Institutional Investor Relations