Cyrela Brazil Realty S A Empreendimentos e Participações : Material Fact - Plano & Plano Request for Registering

Material Fact

Cyrela Brazil Realty S.A. Empreendimentos e Participações

A Publicly-Held Company

CORPORATE TAXPAYER ID (CNPJ/MF): 73.178.600/0001-18

CORPORATE REGISTRATION NUMBER (NIRE) - 35.300.137.728 | CVM Coden.º

01446-0

MATERIAL FACT

São Paulo, July 23, 2020 - Cyrela Brazil Realty S.A. Empreendimentos e Participações, a corporation headquartered at Rua do Rócio, 109, 2nd floor, Room 01, Vila Olímpia, Postal Code 04552-000,in the city and state of São Paulo, enrolled in the Brazilian Ministry of Finance's Corporate Taxpayer Registry (CNPJ/MF) under number 73.178.600/0001-18,registered with the CVM [Comissão de Valores Mobiliários, or Brazilian Securities Commission] as a type A publicly-heldcompany under code 14460 ("Company" or "Cyrela"), in compliance with Paragraph 4 of Section 157 of Law 6404, dated December 15, 1976, as amended ("Brazilian Corporations Law"), and subsection III of the sole paragraph of Article 2 of CVM Instruction 358, dated January 3, 2002, as amended ("ICVM 358/2002"), hereby announces to its shareholders and the market in general as follows:

On this date, Plano & Plano Desenvolvimento Imobiliário S.A. ("Plano & Plano"), joint venture in which Cyrela is one of the shareholders, submitted to CVM a request for registering as an issuer of securities, type "A" ("Request for Registering"), and its initial public offer of distribution of primary and secondary shares, to be held in Brazil, on an unorganized over-the-counter market, pursuant to the terms of CVM's Intruction 400, dated December 29, 2003, as amended ("ICVM 400/2003") and other applicable rules, under the coordination of financial institutions members of the distribution system ("Offer").

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Material Fact

The Company yet informs that, also on this date, Plano & Plano sent to B3 S.A - Brasil, Bolsa, Balcão ("B3") a request for its shares to be listed under a special corporate governance segment, called Novo Mercado ("Novo Mercado listing").

The Request for Registering and the Novo Mercado listing were approved in a Plano & Plano's Extraordinary Shareholders General Meeting held on July 17, 2020.

The Company's participation in the Offer, through the sale of shares issued by Plano & Plano that are owned by Cyrela, was also approved at the Company's Board of Directors Meeting.

Plano & Plano Construções e Empreendimentos Ltda. has been constituted in 1997. In 2006 a joint venture was formed between the Company, Rodrigo Luna and Rodrigo Fairbanks Von Uhlendorff, creating then Plano & Plano Construções e Participações Ltda. Moreover, in January 13, 2016 due to a shareholder restructuring, the Plano & Plano Desenvolvimento Imobiliário Ltda. was created, and it is now responsible for all the Company operations since then. Plano & Plano operates in the development of projects under the Minha Casa Minha Vida Program, in the low income segment, in the Metropolitan region of São Paulo, owning an important strategic role in Cyrela's group business.

Moreover, the Company believes that the access of Plano & Plano to the financial market, through Request for Registering and Offer, could allow: (i) expansion of Plano & Plano's institutional image before its stakeholders; (ii) access and consolidation of Plano & Plano in the Brazilian capital market; and (iii) reduction in the cost of capital of Plano & Plano.

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Material Fact

It is also notable that the Company nowadays owns 50.00% of Plano & Plano, in which, regarding Cyrela's financial data from March 31, 2020, this represented around 1.21% of its total Shareholder's Equity.

Following that, the Company clarifies that the financial data from June 30, 2020 and all other important information presented to CVM by Plano & Plano, due to the Request for Registering, will be reflected in the Company's financial data to be disclosed.

The Company also notes that the present material fact is strictly informative and should not, in any way, be considered an investment recomendation in the Offer, which its own launch is still subjected to different factors, such as the release of all proper registering from CVM.

In conclusion, the Company compromisse to keep its shareholders and the Market informed around the relevant progress regarding the Request for Registering, the Offer and any other matter, being available for any possible clarification to be necessarily made.

São Paulo, July 23, 2020.

Miguel Maia Mickelberg

CFO and Investor Relations Officer

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