Banco Mercantil do Brasil S.A. announced the early tender results of, and amendments to, its offer to purchase for cash up to USD 50,000,000 (the "Tender Cap") of its outstanding 9.625% Subordinated Notes due 2020 (CUSIP: 05961G AA8 and P1400A AA2; ISIN: US05961GAA85 and USP1400AAA27) (the "Notes"), from holders thereof (each, a "Holder" and collectively, the "Holders"), upon the terms and subject to the conditions set in the Offer to Purchase dated October 11, 2018 (as it may be amended or supplemented from time to time, the "Offer to Purchase"), which constitutes the Offer, announced to the market on October 11, 2018. The Bank hereby announces that on October 24, 2018, it had received valid tenders from Holders of USD 18,043,000 in principal amount of Notes. The Bank will accept for purchase all Notes validly tendered (and not validly withdrawn or rejected) prior to the Early Tender Deadline. The Bank further announced that it has decided to amend the payment terms of the Offer so that Holders who validly tender their Notes after the Early Tender Deadline but on or prior to the Expiration Deadline will be eligible to receive, on the Final Settlement Date (as defined in the Offer to Purchase), USD 975.00 per USD 1,000 principal amount of Notes tendered and accepted for purchase, plus accrued and unpaid interest from, and including, the last interest payment date to, but not including, the Final Settlement Date. The Bank further announced that it has decided to postpone the settlement of Early Accepted Notes until the Final Settlement Date, which is currently expected to be on November 9, 2018. In accordance with the Offer to Purchase, if the Offer is oversubscribed at the Expiration Date and the purchase of all Notes validly tendered in the Offer on or prior to the Expiration Deadline would cause the Bank to purchase an aggregate principal amount of Notes in excess of the Tender Cap, then the Bank will (assuming satisfaction or, where applicable, the waiver of the conditions to the Offer) accept for purchase on the Final Settlement Date such tendered Notes as follows: (i) first, all Early Acccepted Notes, without proration; and (ii) second, all Notes validly tendered after the Early Tender Deadline and on or prior to the Expiration Deadline on a prorated basis such that the Bank purchases the maximum aggregate principal amount of Notes that does not exceed the Tender Cap. All Notes not accepted as a result of prorationing will be rejected and returned to the tendering Holder.