Material Fact – Estimated net investment for the 2017 fiscal year

JSL S.A. (“Company”), pursuant to the provisions set forth in Instruction No. 358 of the Brazilian Securities and Exchange Commission (“CVM”), of January 3, 2002, as amended, hereby announces to its shareholders and to the market in general that the Company’s total net investment expected for the 2017 fiscal year is of eight hundred million reais (R$800,000,000.00). The estimated net investment is in line with the Company‘s deleveraging strategy. It is worth noting that this information is a mere forecast, based on the current prospects of the Company‘s management concerning the purchase of assets effectively delivered and the sale of assets effectively carried out throughout the year. If there is a notable change in these factors, the information may be reviewed.This information will be included in section 10.8 of the Company‘s Reference Form and will be made available on the websites of CVM and of the Company.

São Paulo, December 15, 2017

Denys Marc Ferrez
Investor Relations Officer