Saraiva Livreiros Editores : Material Fact - Non provision of guidance for fiscal year 2015

SARAIVA S.A. LIVREIROS EDITORES

Publicly-Held Company

Corporate Taxpayer ID # (CNPJ): 60.500.139/0001-26

Commercial Register # (NIRC): 35300025300

MATERIAL FACT

São Paulo, May 29, 2015 - SARAIVA S.A. LIVREIROS EDITORES (BM&FBOVESPA: SLED4; "Saraiva" or "the Company"), a leading Brazilian publishing company and one of the largest retailers of educational and cultural products, announces that Company management has determined that it is not appropriate to provide guidance for fiscal year 2015.

The Company emphasizes that the withdrawal of guidance has no bearing on its growth strategy, the achievement of operational efficiencies and EBITDA margin expansion. The Company reinforces its commitment to generating value for all shareholders.

JORGE SARAIVA NETO

Chief Executive Officer and Investor Relations Officer

About the Saraiva Group

Saraiva, a Company focused on education, culture and entertainment, is present in all phases of its clients' lives. The Company operates through a multi-channel concept, offering a wide range of products and services. The Company conducts its e-commerce business through the site Saraiva.com.br, whose operations are fully integrated with those of the physical stores, and Saraiva has a presence throughout the entire country. Saraiva also publishes and delivers content, focused primarily on the education segment, in print and digital form and through its Learning Systems, serving pre-school through college levels, in addition to its technical and professional content.