Notice to the Market

São Paulo, February 11, 2014 - Banco Pan (BPNM4) ("Pan"), a financial institution headquartered at Avenida Paulista, nº 1.374 - 12º andar, in the city and state of São Paulo, inscribed in the corporate roll of taxpayers (CNPJ/MF) under no. 59.285.411/0001-13 ("Company"), pursuant to Article 12, paragraph 1 of CVM Instruction 358 of January 3, 2002, as amended by CVM Instruction 449 of March 16. 2007 ("CVM Instruction 358"), hereby announces that it has received the attached communication announcing that Bonsucex Holding Ltda., inscribed in the corporate roll of taxpayers (CNPJ/MF) under no. 52.839.420/0001-60, together with its subsidiary Mineração Buritirama S.A., inscribed in the corporate roll of taxpayers (CNPJ/MF) under no. 27.121.672/0001-01, its Chief Executive Officer, Mr. Silvio Tini de Araújo, Brazilian, inscribed in the individual roll of taxpayers (CPF/MF) under no. 064.065.488-68 and bearer of identity document (RG) no. 3.482.808, and its executive officer, Mr. João José Oliveira de Araújo, Brazilian, inscribed in the individual roll of taxpayers (CPF/MF) under no. 300.692.158-55 and bearer of identity document (RG) no. 33.294.091-3, have increased their share of the preferred shares issued by the Company and now hold approximately fifteen and fifty-one hundredths of a percent (15.51%) of the total number of preferred shares issued by the Company.

Willy Otto Jordan Neto
Investor Relations Officer

To see the PDF version of the Notice to the Market, click here.

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