Cosan S A Indústria e Comercio : 2019 Guidance Update

COSAN S.A.

Corporate Taxpayer ID (CNPJ): 50.746.577/0001-15

Company Registry (NIRE): 35.300.177.045

Publicly Held Company

MATERIAL FACT

Cosan S.A. ("Cosan" or "Company") (B3: CSAN3), in compliance with article 157, paragraph 4 of Federal Law 6,404/76 and Instruction 358/02 and 480/09 issued by the Securities and Exchange Commission of Brazil (CVM), hereby discloses to its shareholders and the market the financial and operating guidance review for 2019, as shown in the table below.

It should be noted that, for better comparability, the projections do not consider the accounting standard IFRS 16 that was adopted since January 2019.

			Guidance 2019	Guidance 2019 Review
			(Jan-Dec/19)	(Jan-Dec/19)
Cosan S.A. Consolidated Pro forma		EBITDA¹ (BRL mln)	5,600	≤ ∆ ≤ 6,000	5,600	≤ ∆ ≤ 6,000
Raízen Combustíveis Brazil		EBITDA¹ (BRL mln)	2,900	≤ ∆ ≤ 3,200	2,900	≤ ∆ ≤ 3,200
	Investments² (BRL mln)	950 ≤ ∆ ≤ 1,150	950 ≤ ∆ ≤ 1,150
]
Raízen Argentina		EBITDA (USD mln)	210	≤ ∆ ≤ 260	210	≤ ∆ ≤ 260
	Investments (USD mln)	100	≤ ∆ ≤ 140	100	≤ ∆ ≤ 140
Comgás		EBITDA Normalized (BRL mln)	1,950	≤ ∆ ≤ 2,100	1,950	≤ ∆ ≤ 2,100
	Investments (BRL mln)	400	≤ ∆ ≤ 900	800	≤ ∆ ≤ 900
Moove		EBITDA (BRL mln)	260	≤ ∆ ≤ 290	260	≤ ∆ ≤ 290
			Guidance	Guidance Review
			Crop Year 2019/20	Crop Year 2019/20
			(Apr/19-Mar/20)	(Apr/19-Mar/20)
		Volume of Sugarcane Crushed ('000 ton)	61,000	≤ ∆ ≤ 63,000	61,000	≤ ∆ ≤ 63,000
Raízen Energia		EBITDA1 (BRL mln)	3,400	≤ ∆ ≤ 3,800	3,400	≤ ∆ ≤ 3,800
		Investments (BRL mln)	2,700	≤ ∆ ≤ 2,900	2,700	≤ ∆ ≤ 2,900

Note 1: EBITDA considers the adjustments highlighted in the Company's earnings releases each quarter, that is, reflecting the recurring results of operations, excluding any one-off effects.

Note 2: Includes investments in assets arising from contracts with clients.

Comgás' investments guidance was revised in order to reflect the 4th Tariff Review results approved in May 23, 2019, which contemplates Comgás' investments plan projected in its Business Plan, divided in three main blocks: Expansion Programs, Operational Support Programs, and Administrative Programs.

The information provided in this document is only an estimate about the businesses and projections of operating and financial results and, as such, is based primarily on management's beliefs and assumptions. Such estimates are subject to diverse risk factors and uncertainties, and are based on information currently available, substantially depending on market conditions, performance of the Brazilian economy, the industries operated by the Company and its subsidiaries and international markets and, hence, are subject to change.

In view of these uncertainties, investors should not take any investment decision based on these estimates and forward-looking statements, as they are not guarantee of performance. Any change in the perception or in the aforementioned factors can cause actual results to differ from the projections made and disclosed.

São Paulo, August 12, 2019

Marcelo Eduardo Martins

Chief Financial and Investor Relations Officer