Springs Global Participacoes : 3Q18 Financial Statements

(Convenience Translation into English from the Original Previously Issued in Portuguese)

Springs Global Participações S.A.

Individual and Consolidated

Interim Financial Information for the Three-month Period Ended September 30, 2018 and Report on Review of Interim Financial Information

Deloitte Touche Tohmatsu Auditores Independentes

Deloitte Touche Tohmatsu

Dr. Chucri Zaidan Avenue, 1.240 4th to 12th floors - Golden Tower 04711-130 - São Paulo - SP Brazil

Tel.: + 55 (11) 5186-1000 Fax: + 55 (11) 5181-2911www.deloitte.com.br

(Convenience Translation into English from the Original Previously Issued in Portuguese)

REPORT ON REVIEW OF INTERIM FINANCIAL INFORMATION

To the Shareholders, Board of Directors and Management of Springs Global Participações S.A.

Montes Claros - MG

Introduction

We have reviewed the accompanying individual and consolidated interim financial information of Springs Global Participações S.A. (the "Company"), identified as parent and consolidated, respectively, included in the Interim Financial Information Form (ITR), for the three-month period ended September 30, 2018, which comprises the balance sheet as of September 30, 2018 and the related statements of operations and of comprehensive income for the three and nine-month periods then ended and of changes in equity and of cash flows for the nine-month period then ended, including the explanatory notes.

The Company's Management is responsible for the preparation of the individual and consolidated interim financial information in accordance with technical pronouncement CPC 21 (R1) - Interim Financial Information and international standard IAS 34 - Interim Financial Reporting, issued by the International Accounting Standards Board - IASB, as well as for the presentation of such information in accordance with the standards issued by the Brazilian Securities and Exchange Commission (CVM), applicable to the preparation of the Interim Financial Information (ITR). Our responsibility is to express a conclusion on this interim financial information based on our review.

Scope of review

We conducted our review in accordance with Brazilian and international standards on review of interim financial information (NBC TR 2410 and ISRE 2410 - Review of Interim Financial Information Performed by the Independent Auditor of the Entity, respectively). A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with standards on auditing and, consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion on interim financial information

Based on our review, nothing has come to our attention that causes us to believe that the accompanying individual and consolidated interim financial information included in the ITR referred to above was not prepared, in all material respects, in accordance with technical pronouncement CPC 21 (R1) and international standard IAS 34, applicable to the preparation of the ITR, and presented in accordance with the standards issued by the CVM.

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Other matters

Statements of value added

We have also reviewed the individual and consolidated statements of value added ("DVA") for the nine-month period ended September 30, 2018, prepared under the responsibility of the Company's Management, the presentation of which is required by the standards issued by the CVM applicable to the preparation of ITR and considered supplemental information for International Financial Reporting Standards - IFRS, which do not require the presentation of the DVA. These statements were subject to the same review procedures described above and, based on our review, nothing has come to our attention that causes us to believe that they were not prepared, in all material respects, consistently with the individual and consolidated interim financial information taken as a whole.

São Paulo, November 12, 2018

DELOITTE TOUCHE TOHMATSU Auditores IndependentesGuilherme Jorge Dagli Júnior Engagement Partner

2018-SPO-2630 V1.docx

BALANCE SHEETS AS OF SEPTEMBER 30, 2018 AND DECEMBER 31, 2017

(In thousands of Brazilian Reais)

ASSETS

Company

Consolidated

Note
CURRENT:
Cash and cash equivalents	3
Marketable securities	4	-
Financial instruments	23.d.4	-
Accounts receivable	5	-
Inventories	6	-
Advances to suppliers	-
Recoverable taxes	18.c	148
Other receivables	1,021
--------------
Total current assets	1,181
--------------
NONCURRENT:
Long-term assets:
Marketable securities	4	-
Receivable - clients	7	-
Receivable - sale of
property	8	-
Related parties	22	-
Recoverable taxes	18.c	-
Deferred taxes	18.b	1,905
Property, plant and equipment
held for sale	11.b	-
Escrow deposits	19	-
Others	-
--------------
1,905
Investments in subsidiaries	9.a	1,214,788
Investment properties	10	-
Property, plant and equipment	11.a	-
Intangible assets	12	27,303
--------------
Total noncurrent assets	1,243,996
--------------
Total assets	1,245,177
========

09.30.2018	12.31.2017	09.30.2018	12.31.2017
12	103	135,377	155,442
-	64,271	35,163
-	18,854	-
-	551,140	497,647
-	572,621	538,175
-	37,511	37,159
148	16,380	28,662
1,044	54,737	52,307
--------------	--------------	--------------
1,295	1,450,891	1,344,555
--------------	--------------	--------------
-	77,998	63,819
-	42,370	37,388
-	59,489	54,587
-	46,641	39,711
-	30,278	14,895
1,905	154,996	89,357
-	39,166	33,731
-	12,622	13,678
-	33,204	34,568
--------------	--------------	--------------
1,905	496,764	381,734
1,193,335	-	-
-	226,982	211,176
-	646,850	669,165
27,303	118,609	114,788
--------------	--------------	--------------
1,222,543	1,489,205	1,376,863
--------------	--------------	--------------
1,223,838	2,940,096	2,721,418
========	========	========

The accompanying notes are an integral part of these interim financial statements.

BALANCE SHEETS AS OF SEPTEMBER 30, 2018 AND DECEMBER 31, 2017

(In thousands of Brazilian Reais)

LIABILITIES AND EQUITY

Company

Consolidated

Note
LIABILITIES
CURRENT:
Loans and financing	13
Debentures	14
Suppliers	15
Taxes
Payroll and related charges
Government concessions	16	-
Noneconomic leases	17	-
Other payables	-
-------------
Total current liabilities	5,177
-------------
NONCURRENT:
Loans and financing	13	-
Debentures	14	-
Noneconomic leases	17	-
Related parties	22	77,352
Government concessions	16	-
Miscellaneous accruals	19	-
Employee benefit plans	20	-
Deferred taxes	18.b	-
Other obligations	2,056
-------------
Total noncurrent liabilities	79,408
-------------
EQUITY:	21
Capital	1,860,265
Capital reserves	79,381
Earnings reserves	25,170
Assets and liabilities valuation
adjustments	82,435
Cumulative translation
adjustments	(255,727)
Accumulated deficit	(630,932)
-------------
Total equity	1,160,592
-------------
Total liabilities and equity	1,245,177
========

09.30.2018

09.30.2018	12.31.2017
392,624	444,861
67,324	11,952
49	4	195,720	163,265
177	120	20,328	13,553
78	109	78,947	59,691
-	19,845	19,473
-	8,717	7,202
-	57,332	42,884
-------------	-------------	-------------
22,099	840,837	762,881
-------------	-------------	-------------
-	620,793	582,180
-	106,606	36,643
-	15,898	13,816
50,176	60	-
-	43,881	42,784
-	13,015	18,610
-	109,575	95,536
-	4,287	4,287
2,056	24,552	15,174
-------------	-------------	-------------
52,232	938,667	809,030
-------------	-------------	-------------
1,860,265	1,860,265	1,860,265
79,381	79,381	79,381
25,170	25,170	25,170
82,435	82,435	82,435
(274,173)	(255,727)	(274,173)
(623,571)	(630,932)	(623,571)
-------------	-------------	-------------
1,149,507	1,160,592	1,149,507
-------------	-------------	-------------
1,223,838	2,940,096	2,721,418
========	========	========

12.31.2017

4,873 -

21,866 -The accompanying notes are an integral part of these interim financial statements.