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Material Fact

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


Oi SA - In Judicial Reorganization ("Oi" or "Company"), in accordance with Article 157, Paragraph 4, of Law No. 6,404/76 and the provisions of CVM Instruction No. 358/02 and further to the Material Facts dated December 6, 2019 and February 28, 2020, hereby informs its shareholders and the market in general that the 7th Corporate Court of Rio de Janeiro (the "Judicial Reorganization Court") rendered a judgment on this date, in which it granted the Company’s request to hold a new General Creditors’ Meeting (the "GCM") to deliberate upon an amendment to the ratified Judicial Reorganization Plan (the "JRP") and determined that:

(i) the Company and its subsidiaries in judicial reorganization (the "Reorganization Companies") submit to the Judicial Reorganization Court a proposal of amendment to the JRP, within 180 days from the publication of the decision; and

(ii) the Judicial Administrator convenes a new GCM, which shall take place within 60 days from the submission of the proposed of amendment to the JRP.

Oi reiterates its commitment to comply with the JRP and stresses that the proposal of the amendment to the JRP will have the purpose of ensuring greater flexibility to it, with the creation of a more efficient corporate and operational structure, aiming at the maximization of the Company’s value to the benefit of all of its stakeholders. This movement is completely aligned with the Company’s Strategic Plan, which has been informed to the market and is already being implemented with full transparency.

The Company will keep its shareholders and the market informed of the development of the subject matter of this Material Fact.

Rio de Janeiro, March 06, 2020.

Oi S.A. - In Judicial Reorganization
Camille Loyo Faria
Chief Financial Officer and Investor Relations Director

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

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