Magazine Luiza : Notice to Shareholders - Stock Split

MAGAZINE LUIZA S.A.

Publicly-Held Company

CORPORATE TAXPAYER ID (CNPJ/MF): 47.960.950/0001-21

COMPANY REGISTRY (NIRE): 35.300.104.811

NOTICE TO SHAREHOLDERS

SPLIT OF THE COMPANY'S SHARES IN THE RATIO OF 1:8

MAGAZINE LUIZA S.A. ("Magazine Luiza" or "Company") hereby informs its shareholders and the market in general, in compliance with the provisions of Paragraph 4 of Article 157 of Law No. 6404, December 15, 1976, as amended ("LSA"), and the Brazilian Securities Commission Instruction No. 358, of January 3, 2002, as amended, that at an Extraordinary Shareholders' Meeting ("ESM"), held on July 31st, 2019, Magalu shareholders approved a split of all of the Company's shares.

Stock Split. All of the current 190,591,464 (one hundred and ninety million, five hundred and ninety one thousand, four hundred and sixty-four) common shares, all nominative, with no par value, issued by the Company, will be split at the ratio of 01 (one) share to 08 (eight) shares of the same type ("Split Factor"), without changes to the capital stock, in accordance with Article 17, item i) of the Company's Bylaws and Article 12 of the LSA. Magalu's capital stock will remain in the amount of R$1,770,911,472.00 (one billion, seven hundred and seventy million, nine hundred and eleven thousand, four hundred seventy-two reais), divided into 1,524,731,712 (one billion, five hundred and twenty-four million, seven hundred and thirty-one thousand, seven hundred and twelve) common shares, all nominative, with no par value. The stock split will be implemented by the Company's Management team, preserving all of the rights and benefits of the Shareholders.

The shares will begin trading at a post-split price on August 6, 2019.

São Paulo, July 31, 2019.

Roberto Bellissimo Rodrigues

Chief Financial and Investor Relations Officer