Resignation of Independent Director

São Paulo, November 3, 2020 - São Carlos Empreendimentos e Participações S.A. ("São Carlos" or "Company"; B3: SCAR3) announces to its shareholders and to the market in general that, on this date, the Chairman of the Company‘s Board of Directors received a letter of resignation from Mr. Luiz Alves Paes de Barros to the position of independent member of the Company‘s Board of Directors.

We express our deepest thanks to Mr. Luiz Alves Paes de Barros for his dedication and effective contribution to the success of São Carlos over the past few years.

Therefore, as established in Single Paragraph of Article 19 of the Company‘s Bylaws, the alternate member of Mr. Luiz Alves Paes de Barros, Mr. Marcio Del Nero, elected by the Company‘s Ordinary General Meeting, held on April 30, 2020, will replace him as an independent member of the Board of Directors of São Carlos.

To access the full document, click here.

For further information, please contact the Investor Relations department:

Investor Relations Department
Tel.: (55 11) 3048-5419

About São Carlos
São Carlos Empreendimentos is one of the main companies in the sector of investment and administration of commercial properties in Brazil. Its goal is to maximize rental revenues and the real estate portfolio´s market value. Our business strategy includes investing in commercial properties, retrofitting our real estate and increasing rent, and disposing of already matured properties. We currently have a portfolio which includes mostly class A office buildings and retail stores, located in the States of São Paulo and Rio de Janeiro.

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