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Transmitted only for CVM and BM&FBOVESPA

Investor Relations

BM&FBOVESPA: MILS3

Mills announces reduction of ownership


Rio de Janeiro, October 31, 2016 Mills Estruturas e Servios de Engenharia S.A. (Mills) informs
that it was notified on October 28, 2016 by Brandes Investment Partners, LP (Brandes), the
achievement of less than 5% of the total voting equity of Mills. Brandes is a federally registered
investment adviser in the United States, by a number of clients, especially institutional United
States investors. Brandes reports that receives full discretionary authority from Clients with
respect to the investment and divestment of assets in the portfolios they place under Brandes
management. These assets are registered in the name of each Client or its nominee with a
designated custodian and at no time does Brandes have legal title over them.
Brandes, that has head Office at 11988 El Camino Real, Suite 600, San Diego, CA 92130, USA,
reports that, as result of the exercise by Brandes of its capacity of discretionary investment
adviser, as of July 27, 2016, has been reduced to 8.058.251 Mills ordinary shares, which holding
represents 4.58% of the companys shares in issue.
As can be seen, Brandes is meeting its relevant shareholding disclosure obligation under CVM
Instruction 358 in an untimely manner. This happened because it only recently ascertained the
uncurrentness of its database which did not account for the Mills capital increase approved on
April 19, 2016. Brandes will be advising CVM of the occurrence of this unintentional error promptly
hereafter.
Brandes reported that none of their clients wants to change any positions in any other securities
or derivative financial instruments referenced to Mills shares. Additionally, reports that is not
shown that its clients hold any convertible debentures into Mills shares. They understand,
however, that even if they did, such positions would not be aggregated with any portion they own
in the holdings hereby reported since these holdings were purchased under their discretionary
management.

Transmitted only for CVM and BM&FBOVESPA

Investor Relations

BM&FBOVESPA: MILS3

At last, Brandes reports that, other than an investment advisory agreement entered into between
them and each Client for purposes of asset management pursuant to which, generally, they may
exercise voting rights in respect of such Clients investment portfolio, there is no agreement or
contract between them, on the one hand, and part or all of the Clients Who own the aggregate
holdings reported hereby, on the other, regulating any acting in concert or similar arrangement
with respect to the voting rights or the purchase and sale of securities issued by Mills.

For more information: +55-21-3924-8768 or ri@mills.com.br

IR Team:
Gustavo Zeno CFO and IR Officer
Camila Conrado IR Coordinator
Suzana Gruenbaum IR Analyst

This press release may contain statements that express management's expectations about future events or results. All statements based on future
expectations rather than on historical facts involve various risks and uncertainties. Mills can not guarantee that such statements will prove to be
correct. Such risks and uncertainties include factors: relating to the Brazilian economy, the capital markets, the sectors of infrastructure, real
estate, oil and gas, among others, and governmental rules that are subject to change without notice. For additional information on factors that
may give different results from those estimated by the Company, please consult the reports filed with the Securities and Exchange Commission CVM.