Slide 1: Earnings Conference Call 2Q25
Earnings Conference Call 2Q25
Slide 2: Disclaimer
Disclaimer This presentation contains what are considered “forward-looking statements,” as defined in Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act, as amended. Some of these forward-looking statements are identified with words such as “believe,” “may,” “
Slide 3: Strong volumes and cash cost already on a downward trend
HIGHLIGHTS Strong volumes and cash cost already on a downward trend Sales Operating Financial Volume Performance Management Pulp: Adjusted EBITDA: Liquidity3 : 3.3 million tons R$6.1 billion US$5.9 billion (vs. 2.7 million tons 1Q25 and (vs. R$4.9 billion 1Q25 and (vs. US$5.0 billion 1Q25 and 2.5 mi
Slide 4: Paper and Packaging Business: higher EBITDA from volumes and lower costs
PAPER AND PACKAGING BUSINESS Higher EBITDA driven by sales volumes increase and lower costs from Brazilian operations. US operations mainly impacted by planned maintenance downtime. Paper Sales¹ (‘000 ton) Average Net Price ($/ton) 1,340 329 348 220 US operations 6,215 6,050 5,824 6,057 Brazilian op
Slide 5: Pulp Business: strong sales and EBITDA growth
PULP BUSINESS Strong sales and EBITDA growth, enabled by higher production volumes and effective commercial execution Sales Volume (‘000 ton) Average Net Price – Export Market ($/ton) Adjusted EBITDA and EBITDA Margin (%) US$ R$ R$ MM R$/ton Margin % 11,838 2,176 1,779 3,657 1,605 1,645 3,269 3,368
Slide 6: Pulp Business: cash cost decline with improved operational efficiency
PULP BUSINESS Cash cost decline with improved operational efficiency, also benefited by FX tailwind Pulp Cash Cost – 2Q25 vs. 1Q25 (ex-downtimes – R$/ton) -3% 859 832 (3) (1) (11) (5) (6) 340 336 363 356 190 179 (34) (39) Wood 1Q25 Δ Wood Δ Input Δ Fixed Cost Δ Energy FX 2Q25 Input Pulp Cash Cost –
Slide 7: Financial Management: leverage ratio and strong balance sheet
FINANCIAL MANAGEMENT Leverage ratio affected by y-o-y drop in pulp prices. Strong balance sheet provides resilience through the cycle. Adjusted EBITDA LTM and Net Debt (US$ billion) Adjusted 4.3 4.2 EBITDA LTM 12.9 13.0 1.1 0.6 0.2 0.2 0.2 Net Debt Adjusted Total Working Accrued Others¹ Net Debt Mar
Slide 8: Financial Management: cash flow hedging positioned for FX scenario
FINANCIAL MANAGEMENT Cash flow hedging even better positioned to the current FX scenario Current portfolio – ZCC Financial Results - 2Q25 (R$ billion) -1.1 Net interest over debt 6.28 6.41 Effects related to debt management Call 6.16 (average) 6.06 6.05 3.4 ∆ FX on debt in US$ Put 5.44 5.53 (average
Slide 9: Looking ahead…
2Q25 Looking ahead… o Cash production cost decline reaffirmed for 2H25. Investor Day 2025 o Suzano Packaging US operations with positive EBITDA as from 3Q25. SP 11.Dec.25 • C-Level presentation o JV with K-C: Clean team already in place with focus on Closing and D+1. • Q&A • SITE VISIT: Mogi das Cru
Slide 10: Q&A
Q&A 2Q25 Investor Relations ir.suzano.com.br ri@suzano.com.br