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Notice to the Market

Oi S.A. - In Judicial Reorganization
CNPJ/MF Nº 76.535.764/0001-43
NIRE 33.30029520-8
Publicly-Held Company


Oi S.A. - In Judicial Reorganization ("Oi" or the "Company"), in addition to the Material Fact published on September 13, 2018, hereby inform its shareholders and the market in general that it has acknowledged on this date the act issued by the Superintendence of Competition of the National Telecommunications Agency - ANATEL, confirming the full effectiveness of the prior consent granted by Anatel’s Board of Directors for the inauguration of the members of the New Board of Directors, whose election was ratified at the Extroardinary General Shareholders Meeting held on September 17, 2018.

As a result, the Company’s Board of Directors now has 11 independent members, with diverse and complementary professional profiles and with extensive experience in the market, inaugurating a new stage in Oi‘s governance process, as set forth in the Company‘s Judicial Reorganization Plan (the "Plan"). The completion of another stage of the Plan further ensures stability to the Judicial Reorganization process and to the Company itself for executing the turnaround that is in progress, which is aimed at the sustainable growth of the business, after solving the financial debt, which was reduced from R$45 billion to R$14 billion.

The members of the new Board of Oi are Eleazar de Carvalho Filho (Chairman), Henrique José Fernandes Luz, José Mauro Mettrau Carneiro da Cunha, Marcos Bastos Rocha, Marcos Duarte Santos, Marcos Grodetzky, Maria Helena dos Santos Fernandes de Santana, Paulino do Rego Barros Jr, Ricardo Reisen de Pinho, Rodrigo Modesto de Abreu and Wallim Cruz de Vasconcellos Junior, whose brief curricula vitae are attached to this Notice.

Rio de Janeiro, September 19, 2018.

Oi S.A. - In Judicial Reorganization
Carlos Augusto Machado Pereira de Almeida Brandão
Chief Financial Officer and Investor Relations Officer

Click here for the pdf file.

(¹) This translation is still subject to the auditors review

(¹) This translation is still subject to the auditors review