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ALGAR TELECOM S/A Publicly-Held Company CNPJ (Corporate Tax) No.: 71.208.516/0001-74 NIRE (Company Register Identification Number): 313.000.117-98

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ALGAR TELECOM S/A Publicly-Held Company CNPJ (Corporate Tax) No.: 71.208.516/0001-74 NIRE (Company Register Identification Number): 313.000.117-98 REGISTERED IN CATEGORY “B” ALGAR TELECOM S/A Publicly-Held Company CNPJ (Corporate Tax) No.: 71.208.516/0001-74 NIRE (Company Register Identification Number): 313.000.117-98 MANAGEMENT PROPOSAL Ordinary and Extraordinary General Meeting to be held on April 20, 2018. Page 1 of 9 REGISTERED IN CATEGORY “B” TABLE OF CONTENTS Item Subject Page 1. Ordinary General Meeting 3 1.1. Acknowledge the accounts of the Administrators, examine, discuss and vote on the Management Report, Financial Statements, accompanied by Reports issued by Independent Auditors and the Fiscal Council for the 3 fiscal year ended December 31, 2017. 1.2. Resolve on the proposed destination of net income for the 2017 fiscal 3 year. 1.3. Resolve on the number of members that will be part of the Board of 4 Directors. 1.4. Elect the members of the Board of Directors. 4 1.5. Resolve on the proposed remuneration for Directors. 6 1.6. Resolve on the non-installation of the Fiscal Council. 7 1.7. Resolve on the Company’s proposed capital budget for the fiscal year 7 ending on December 31, 2018. 2. Extraordinary General Meeting 8 2.1. Resolve on the proposed distribution of part of the profit reserve account 8 as dividends. 3. General Instructions 8 Page 2 of 9 REGISTERED IN CATEGORY “B” Dear Shareholders, This Management Proposal was prepared by the Board of Directors of ALGAR TELECOM S/A (the “Board” and “Company”, respectively), pursuant to Law 6.404, dated December 15, 1976 (“Law 6.404/76”), and CVM Instruction 480, dated December 7, 2009 (“CVM Instruction 480”), to inform and guide the Company's shareholders on the deliberations to be taken at the Ordinary and Extraordinary General Meeting to be held on first call on April 20, 2018, at 09:00 a.m. (“Meetings”), at the Company’s headquarters located at Rua José Alves Garcia, nº 415, Bairro Brasil, in the city of Uberlândia, State of Minas Gerais. 1. Ordinary General Meeting. 1.1. Acknowledge the accounts of the Administrators, examine, discuss and vote on the Management Report, Financial Statements, accompanied by Reports issued by Independent Auditors and the Finance Committee for the fiscal year ended December 31, 2017. Considering the Company's Financial Statements for the fiscal year ended December 31, 2017, which have already been duly published and includes an opinion from the external auditors and the Fiscal Council, as well as the Standardized Financial Statements which have been presented to the Brazilian Securities and Exchange Commission and to the Company's Board of Directors and Fiscal Council, we submit for shareholder resolution at the Ordinary General Meeting the financial statements for the fiscal year ended 12/31/2017. All the aforementioned documents are available for consultation at the Company's headquarters, and may also be consulted on the websites of the Brazilian Securities and Exchange Commission - CVM (www.cvm.gov.br) and the Company’s website (http://ri.algartelecom.com.br/). 1.2. Resolve on the proposed destination of net income for the 2017 fiscal year Considering the Company's Financial Statements for the year ended December 31, 2017, we disclose below the proposal for the allocation of the Company's net income, to be decided at its Ordinary General Meeting, pursuant to Law 6.404/76. In the fiscal year ended December 31, 2017, in addition to the mandatory minimum dividends in the amount of R$54.7411, corresponding to 25% of the net profit after deducting the legal reserve, as provided for in the Bylaws, the Company proposed additional dividends of 10% of net profit, in the amount of R$21.8962. The dividends proposed by the Company for the fiscal year ended December 31, 2017 and to be resolved at the Ordinary General Meeting are shown as follows: Company 12/31/2017 12/31/2016 Net income for the year 230,488 182,496 Legal reserve - 5% (11,524) (9,125) Income used for payment of dividends 218,964 173,371 Mandatory minimum dividends (25%) 54,741 43,343 Dividend per common share (R$) 0.21 125,64 Dividend per preferred share – A class (R$) - 125,64 Dividend per preferred share – B class, with additional 10% (R$) - 138,21 Additional 10% for preferred share – B class - 54 Page 3 of 9 REGISTERED IN CATEGORY “B” Total mandatory minimum dividends 54,741 43,397 Proposed additional dividends 21,896 19,403 Dividend per common share (R$) 0.08 56,25 Dividend per preferred share – A class (R$) - 56,25 Dividend per preferred share – B class, with additional 10% (R$) - 61,87 Additional 10% for preferred shares – B class - 25 Total dividends additional to the mandatory minimum dividends 21,896 19,428 Total proposed dividends: Mandatory minimum dividends 54,741 43,397 Additional dividends 21,896 19,428 76,637 62,825 Dividends per share class: Number of shares: Common shares 267,468,800 282,820 Preferred shares – A class - 57,792 Preferred shares – B class - 4,349 Total shares 267,468,800 344,961 Dividend unit price (R$): Common share unit price 0.29 181,89 Unit price of preferred share – A class - 181,89 Unit price of preferred share – B class - 200,08 Total dividends per share class: Total dividends – common shares 76,637 51,443 Total dividends – preferred shares – A class - 10,512 Total dividends – preferred shares – B class - 870 76,637 62,825 1.3. Resolve on the number of members that will be part of the Board of Directors. Pursuant to Article 13 of the Company's Bylaws, resolve on the number of members that will be part of the Company's Board of Directors, being the requirement of at least five (05) and a maximum of seven (07) effective members, without alternates, all elected and at the Ordinary General Meeting, with a mandate of two (2) years, being eligible for (re)election. 1.4. Elec the members of the Board of Directors. To facilitate the conviction and consequent approval of the candidates that will be part of the Board of Directors, the Company’s Management states that the CVs of the respective candidates are available to the Shareholders at the Company's headquarters, and provides summary information on the candidates, as follows: Indicated by the Controlling Shareholder for (re)election, as members of the Board of Directors: Mr. Luiz Alexandre Garcia. Professional experience in the past 5 years: (i) 2011 to 2017: CEO of Algar S/A, member of the Board of Directors of Grupo Algar (Agroindustry) and member of the Board of Directors of Algar Telecom (Telecommunications); (ii) Member of the Corporate Governance Committee of Grupo Algar. He holds the following management positions in other companies or third sector organizations: (i) Member of the Strategic Council of FIEMG - Federation of Industries of Minas Gerais; (ii) Member of the Curator Council of CPqD – Center for Research and Development in Telecommunications and IT; (iii) Chairman of ACEL - National Association of Mobile Phone Operators; (iv) Chairman of FEBRATEL – Brazilian Telecommunications Federation; (v) Statutory Officer of Telebrasil – Brazilian Page 4 of 9 REGISTERED IN CATEGORY “B” Telecommunications Association; (vi) Chairman of the Board of Directors of ABRAFIX – Brazilian Association of Concessionaires of Fixed Switched Telephone Service; (vii) Chairman of SindiTelebrasil – National Union of Telephony Companies and Cell and Personal Service. Mrs. Eliane Garcia Melgaço. Professional experience in the past 5 years: (i) Vice-President of Governance and Brands of Grupo Algar; (ii) 2011 to 2015: Vice-President of Marketing and Sustainability of the Group; (iii) Member of the Human Talent and Corporate Governance Committee of Grupo Algar. She holds the following management positions in other companies or third sector organizations: (i) Member of the Board of Directors of FBNI - Family Business Network International. Mr. Luiz Alberto Garcia. Professional experience in the past 5 years: (i) 2011 to 2016: Chairman of the Board of Directors of Grupo Algar, Chairman of the Board of Directors of Algar Agro (Agroindustry) and member of the Board of Directors of Algar Telecom (Telecommunications); (ii) Member of the Human Talent and Corporate Governance Committee of Grupo Algar. He holds the following management positions in other companies or third sector organizations: (i) Member of the Board of FIEMG – Federation of Industries of Minas Gerais; (ii) Member of Fundap – Research Foundation of the Federal University of Uberlândia; (iii)Member of IEDI – - Institute for Studies for Industrial Development; (iv) Member of ACIUB Industrial/Commercial Association of Uberlândia. Mr. Divino Sebastião de Souza. Professional experience in the past 5 years: (i) 2015 to 2016: Vice-President of Operations of Algar S/A and Chairman of the Board of Directors of Algar Telecom S/A; (ii) 2011 to 2015: CEO of Algar Telecom S/A. Mr. Luiz Eduardo Falco Pires Correa. Professional experience in the past 5 years: Since March 2013: CEO of CVC Brasil Operadora e Agência de Viagens S.A., where he has also been member of the Board of Director since October 2016. 2001 to 2011: CEO of Oi S.A, a telecommunications service provider. Prior to Oi, he held relevant positions during his 20 years at TAM Linhas Aéreas, where he worked in the Operations, Sales, Marketing and Strategic areas. Sr. Thilo Helmut Georg Mannhrdt. Born in Germany, he developed his professional career in the European aerospace industry and primarily at McKinsey & Company, where he retired as a Senior Partner based in Latin America. He was responsible for the launch and management of McKinsey in Brazil in the 1980s and 1990s, and also directed the company's operations in South Africa and North America (Mexico, Colombia, Peru and Venezuela) from 2001 to 2009.
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