Minerva S A : Material Fact - Cancelation Spac Athena

MINERVA S.A.

Publicly-held Company

Corporate Taxpayer ID (CNPJ): 67.620.377/0001-14

Company Registry (NIRE): 35.300.344.022 | CVM Code: 02093-1

MATERIAL FACT

Minerva S.A. ("Minerva" or "Company"), a leading company in South America in beef exports, in compliance with the provisions of paragraph 4 of article 157 of Law 6,404, dated December 15th, 1976, as amended ("Brazilian Corporate Law"), and CVM Instruction 358 of January 3rd , 2002, as amended ("ICVM 358/02"), in furtherance of the Material Fact dated September 14, 2020, hereby informs its shareholders and the market in general that Minerva has terminated all discussions in relation to the possible business combination of its subsidiary Athena Foods S.A. ("Athena Foods") with a NASDAQ-listed Special Purpose Acquisition Company (the "SPAC")

The Company's officers opted to discontinue the disclosure of financial projections (guidance) previously presented in section 11 of the Company's Reference Form, considering that they were related to the potential transaction involving Athena Foods.

In this sense, any consideration regarding estimates and forward-looking statements relating to the plans, expectations about future events, strategies and financial trends that affect the Company's activities, including any guidance previously disclosed, which involve risks and uncertainties and, therefore, are not indicative or constitute guarantee of future results, should not be considered by the investors in order to base their decision to invest.

Minerva's management will continue to work on generating value to its shareholders through the development of its business plan and remain attentive to opportunities that represent the best interest of all its shareholders and other stakeholders.

Barretos, October 8th, 2020

Minerva S.A.

Edison Ticle de Andrade Melo e Souza Filho

Chief Financial and Investor Relations Officer