Suzano (SUZB3) Conference presentation summary

Key financial highlights

• Net revenue reached US$9.1 billion in LTM 1Q26, with adjusted EBITDA of US$3.9 billion and a 43% margin.

• Net debt stands at US$13.0 billion, with net leverage at 3.3x, and a deleveraging target below 2.5x.

• Revenues are predominantly from international markets, with 75% from pulp and 21% from paper and packaging.

• Operational cash generation was R$13.8 billion in 2025 and R$13.9 billion in LTM 1Q26.

• All 2025 debt issuances were below the bond curve, achieving the lowest G-spread for the 2036 bond.

Strategic direction and market positioning

• Focused on enhancing competitiveness, disciplined growth, and extracting value from prior capital allocations.

• Leading global market pulp producer with 13.4 million tons capacity and a diversified asset base.

• Accelerating fiber-to-fiber strategy and aiming for further deleveraging.

• Expansion in packaging and consumer goods, with almost half of business unit net revenue now from packaging.

• Joint venture with Kimberly-Clark to strengthen global tissue market presence and capture operational synergies.

Operational excellence and cost management

• Competitiveness acceleration program identified 77 initiatives across the value chain, targeting significant cost reductions.

• Ribas do Rio Pardo mill exceeded nominal capacity, with no additional capex required for further efficiency.

• Eucawood swap with Eldorado delivers 18% net gain in standing volume and reduces annual harvesting area by 13%.

• Logistics and process optimization, including AI, expected to reduce costs by R$80M–R$115M in 2026.

• Sustained cost competitiveness supported by proprietary forestry technology and disciplined execution.