Suzano (SUZB3) Conference presentation summary

Financial performance and governance

• Net revenue reached US$9.0 billion LTM 2Q26, with adjusted EBITDA of US$3.8 billion and a 42% margin.

• Net debt stands at US$12.8 billion, with net leverage at 3.4x, and a deleveraging target below 2.5x.

• Board of Directors has 44% independent members and 22% women, supported by multiple committees.

• Listed on B3's Novo Mercado and NYSE ADR Level 2, reflecting robust governance.

• Conservative financial policy with commodity hedging and diversified global funding sources.

Strategic roadmap and competitiveness

• Focus on enhancing competitiveness through operational efficiency, cost reduction, and innovation.

• Unique forestry capability, proprietary eucalyptus genetics, and optimized logistics drive cost leadership.

• Ribas do Rio Pardo mill outperformed expectations, increasing production capacity above nominal levels.

• Competitiveness Acceleration Program identified 77 initiatives across the value chain, targeting significant cost savings.

• Eucawood swap with Eldorado delivers 18% net gain in standing volume and 20% IRR.

Market dynamics and growth

• Global market pulp demand continues to grow, led by China and tissue segment expansion.

• BHKP (bleached hardwood kraft pulp) gaining market share over BSKP, with organic growth driven by emerging markets.

• New integrated capacity in Asia and LatAm may pressure margins, but vertical integration in China is expected to grow.

• Fluff pulp (EUCAFLUFF®) expansion project is 98% complete, quadrupling production capacity.

• Downstream integration and packaging segment now drive nearly half of business unit net revenue.