Somos Educacao : 03/28/2017 – 3rd Stock Buyback Program

SOMOS EDUCAÇÃO S.A. CNPJ/MF nº 02.541.982/0001-54 NIRE 35.300.175.832

Publicly Held Company

MATERIAL FACT SOMOS Educação S.A. ("Company"), in compliance with CVM Instruction n. 358 and CVM Instruction n. 567, hereby informs its shareholders and the market in general that its Board of Directors, at a meeting held today, approved the Company's Third Share Buyback Program ("Third Share Buyback Program"), under the following conditions:

• The purpose of the Third Share Buyback Program is to allow the Company to repurchase shares to fulfill its obligations under the Stock-Based Compensation Plan (as well as any additional grant of shares or other stock option plans that may be approved). The repurchased shares can be

• The Third Share Buyback Program will contemplate the acquisition of up to 5,242,578 common shares, all book-entry shares and without face value.

• The term of the Third Share Buyback Program will be of 12 (twelve) months from March 28, 2017 (inclusive), until March 27, 2018, and the Board of Officers will be responsible to define the dates on which the buybacks will be effectively executed (any acquisition of shares will be made pursuant to legal and regulatory blackout periods).

• The Company has, on this date: (i) 62,061,342 free float shares (according to the definition set forth in CVM Instruction n. 567); and (ii) 127,345 shares are held in treasury.

• The buyback transactions will be carried out through the following financial institutions: (i) Itaú Corretora de Valores S.A.; (ii) Bradesco S.A. - Corretora de Títulos e Valores Mobiliários; (iii) Merrill Lynch S.A. Corretora de Títulos e Valores Mobiliários; and (iv) Credit Suisse (Brasil) S.A. Corretora de Títulos e Valores Mobiliários.

São Paulo, March 28, 2017.

Daniel Cordeiro Amaral Chief Financial and Investor Relations Officer