Gafisa S A : Material Fact - CALÇADA – Approval by CADE

GAFISA S.A.

CNPJ/MF nº 01.545.826/0001-07

NIRE 35.300.147.952

PUBLICLY HELD CORPORATION

MATERIAL FACT

CALÇADA - APPROVAL BY CADE

A GAFISA S.A. (B3: GFSA3; OTC: GFASY) ("Gafisa" ou "Companhia"), in accordance with CVM Regulation n. 358/2002, hereby announces to its shareholders and the market that Brazil's Administrative Council for Economic Defense (CADE) has approved the transaction with CALÇADA S.A ("Calçada") for the acquisition of Calçada's stake in 04 real estate assets, located in the South and West Zones of the City of Rio de Janeiro.

The acquisition entails payments combining Company's cash and equity in the Company's issued capital, through convertible debentures, as disclosed in the material fact dated October 21st, 2020.

The combination of this transaction with Gafisa's existing assets in Rio de Janeiro - that include its landbank and the strength of its brand - will provide a base for Gafisa to a top contender for the Rio de Janeiro real estate market in a short period of time.

Gafisa's history began in the city of Rio de Janeiro, and relies on a traditional brand, which is recognized as a benchmark in the Brazilian real estate market. Our new management model has been deployed with dynamism and discipline, positioning the Company towards a new cycle of development and sustained growth, regaining its history of success and value creation for shareholders.

With this transaction, Gafisa reaffirms its confidence in Rio de Janeiro, Brazil's second- largest real estate market.

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São Paulo, November 3rd, 2020.

Ian Andrade

Diretor Financeiro e de Relação com Investidores