Gafisa : Material Fact - Fasano – Board of Directors Approval

GAFISA S.A.

CNPJ/MF nº 01.545.826/0001-07

NIRE 35.300.147.952

Publicly Traded Company

MATERIAL FACT

FASANO - Board Approval

GAFISA S.A. (B3: GFSA3; OTC: GFASY) ("Gafisa" or "Company"),in accordance with CVM Regulation n. 358/2002, and in addition to the information disclosed on November 10 and December 11, 2020, hereby announces to its shareholders and the market that its Board of Directors authorized the exercise, through an investment fund, of the buy option before EVEN Construtora e Incorporadora S.A. for the purchase of the real estate Project named "Hotel Fasano Itaim" and of 32 studio-apartments.

The transaction amounts to BRL 310 million, however, seeking an efficient management of its resources and a better equation of its stake in the project, partners will be searched to take part in the transaction. There are still some precedent conditions pending for the closing of the transaction, and both parties are engaged for those to be met as soon as possible.

Gafisa envisions this transact as another stepping stone for setting up of its real estate properties management business, diversifying its portfolio for both assets and revenues, and maximizing the use of its expertise in the Brazilian real estate Market.

Gafisa will keep the market informed of the progress of this transaction.

São Paulo, December 28, 2020.

Ian Andrade

Chief Financial and Investor Relations Officer