Capex S.A. (the purchaser) announced the commencement of an offer by the purchaser to purchase for cash from each registered holder any and all of its outstanding 10.00% notes due 2018 issued by the purchaser under the indenture dated as of March 10, 2011. The offer is being made by the purchaser pursuant to the offer to purchase dated May 2, 2017 and the related letter of transmittal and notice of guaranteed delivery. The purchaser intends to finance the purchase of the notes with the proceeds of a concurrent issuance of new notes. The Offer will expire at 8:00 A.M., New York City time, on May 10, 2017, unless extended or earlier terminated (such date and time, including as extended or earlier terminated, the expiration time). Notes tendered may be validly withdrawn prior to the expiration time, but not thereafter, except as described in the offer documents or as required by applicable law. Holders validly tendering and not withdrawing their notes at or before the expiration time will be entitled to receive USD 1,004.17 per USD 1,000 principal amount of the notes, on the settlement date.