ABEV Ambev SA

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F ___X___ Form 40-F _______

  Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.  

AMBEV S.A.

CNPJ [National Register of Legal Entities] n° 07.526.557/0001-00
NIRE [Corporate Registration Identification Number] 35.300.368.941

A Publicly-Held Company

MATERIAL FACT NOTICE

Ambev S.A. (“ Company ”), in compliance with the Brazilian Securities Commission (“ CVM ”) Instruction nº 358/2002, as amended, informs its shareholders and the public that the Company's management revised, on the date hereof, the projections for the year of 2017.

As disclosed today in our press release, we expect in 2017:

• Cash COGS (Cost of Goods Sold) per hectoliter in Brazil to positively evolve over 2017, increasing (i) double digits in the first half, and (ii) low single digits to flattish in the second half, mainly explained by the impact of the devaluation of the Brazilian Real during the first half of 2016 (our average implied foreign exchange hedge rate for 2017 is 3.59 BRL/USD, which compares to 3.24 BRL/USD in 2016).

This material fact notice refers to projections and shall not be considered as promise of performance, since projections reflect the perception of the Company's management and are subject to risks and uncertainties. Projections take into account several factors such as general economic, market and industry conditions that are beyond the control of the Company’s management. Any changes in such assumptions or factors could cause actual results to differ from the projections made.

Additional information about our projections can be found in our annual financial information and related press release, both available at the SEC’s website.

São Paulo, March 2, 2017.

Ambev S.A.

Ricardo Rittes de Oliveira Silva

Chief Financial and Investor Relations Officer