Suzano S.a. · BMFBOVESPA:SUZB3

Suzano — Non-Deal Roadshow (August 2017)

17 slides from Suzano's roadshow presentation, August 2017

  1. Slide 1: NDR Presentation

    NDR Presentation August 2017

  2. Slide 2: Why to invest in Suzano?

    Why to invest in Suzano?  Strategy to Maximize the Return on Invested Capital  Competitive Advantages and Leading Position in the Industry  Strong Operating Cash Flow  Governance Upgrade to Novo Mercado  Attractive Valuation

  3. Slide 3: Transformation and results evolution are the foundation

    Transformation and results evolution are the foundation… Strategic Pillars Structural Adjacent Reshaping of Competitiveness Businesses the Industry Maximizing returns for shareholders ...to prepare Suzano for the FUTURE Cost Supply Capital Financial Product Discipline Discipline Discipline Disciplin

  4. Slide 4: Why to invest in Suzano?

    Why to invest in Suzano?  Strategy to Maximize the Return on Invested Capital  Competitive Advantages and Leading Position in the Industry  Strong Operating Cash Flow  Governance Upgrade to Novo Mercado  Attractive Valuation

  5. Slide 5: Wood Competitiveness

    Wood Competitiveness Suzano’s forest competitiveness with adequate yield allows lower wood cost 314 BHKP Wood Cost by region 291 (US$/ton) 213 213 213 218 202 183 192 171 154 144 97 87 Suzano Brazil Chile / East Canada Indonesia Finaland Sweden Bel / Other USA Iberia Japan China Uruguay Europe Franc

  6. Slide 6: Results consistency with strong operational and financial performance

    Results Pulp Cash Cost LTM¹ (R$/ton) consistency 580 642 581 623 649 589 653 with strong 536 474 491 operational and financial Dec/13 Dec/14 Dec/15 Dec/16 Jun/17 per formance… Operating Cash Flow LTM¹ (R$/ton) Pulp Adjusted EBITDA LTM¹ (R$/ton) …and 833 1,109 continuous 728 1,043 search for the 506

  7. Slide 7: Suzano's Pulp Cash Cost Downward trend

    Suzano’s Pulp Cash Cost Downward trend Wood cost reduction Wood Supply optimization Cash Cost (R$/ton) Forest yield increase Target Cash Cost 642 623 Average distance reduction: 589 570 475  Bahia State: to 60km  Maranhão State: to 120km 2015 2016 LTM 2Q17 2018¹ 2021 - 2022¹  São Paulo State: to

  8. Slide 8: Paper business to benefit from the Brazilian economy recovery

    Paper business to benefit from the Brazilian economy recovery Brazilian Paper Demand (thousand tons) Printing & Writing Paperboard Paper market is less volatile 1,835 1,823 292 540 542 Resilient cash flow 321 35 37 Brazilian paper market is consolidated 1,543 1,502 505 505 Leadership position in the

  9. Slide 9: Suzano's Paper Competitiveness

    Suzano’s Paper Competitiveness Suzano is an integrated paper producer, which leads to a higher contribution margin per ton Price adjustment above inflation Suzano’s Domestic Paper Prices (R$/ton) Strong distribution S u z a n o ’ schannel in 3,140 3,170 Brazil 2,792 2,614 Suzano’s Go-To-Market Proje

  10. Slide 10: TISSUE Competitiveness on production and logistics costs adds value to pulp

    TISSUE Competitiveness on production a n d l o g i s t i c s c o s t s a d d s va l u e to p u l p Cash Flow (R$/ton¹) Production capacity: 120k tonnes Start up: 3Q17 in Mucuri (BA) Final Start up: 4Q17 in Imperatriz (MA) product Production of jumbo rolls and final products Pulp Modern and integrate

  11. Slide 11: Why to invest in Suzano?

    Why to invest in Suzano?  Strategy to Maximize the Return on Invested Capital  Competitive Advantages and Leading Position in the Industry  Strong Operating Cash Flow  Governance Upgrade to Novo Mercado  Attractive Valuation

  12. Slide 12: ROIC: indicator used to manage Suzano

    ROIC : indicator used to manage Suzano Operating Cash Flow¹ (R$ billion) 3.5 ROIC (%) 2.7 2.7 1.1 1.4 14.7% 11.9% 11.3% 2013 2014 2015 2016 LTM 2Q17 6.4% 5.2% Adjusted EBITDA (R$ billion) 4.6 2013 2014 2015 2016 LTM 2Q17 3.9 3.7 2.4 1.7 2013 2014 2015 2016 LTM 2Q17 793 745 784 696 697 Avg. Europe FO

  13. Slide 13: Why to invest in Suzano?

    Why to invest in Suzano?  Strategy to Maximize the Return on Invested Capital  Competitive Advantages and Leading Position in the Industry  Strong Operating Cash Flow  Governance Upgrade to Novo Mercado  Attractive Valuation

  14. Slide 14: The proposed migration to Novo Mercado materializes the commitment to highest governance standards

    The proposed migration to Novo Mercado materializes the commitment to cultivate the highest standards of governance Equal political and Creates conditions to economic rights: continue improving 1 share 1 vote and and innovating 100% tag along Non-premium migration reinforces Liquidity gains the comm

  15. Slide 15: Why to invest in Suzano?

    Why to invest in Suzano?  Strategy to Maximize the Return on Invested Capital  Competitive Advantages and Leading Position in the Industry  Strong Operating Cash Flow  Governance Upgrade to Novo Mercado  Attractive Valuation

  16. Slide 16: Suzano's multiple does not reflect its operational and financial performance

    Suzano’s multiple does not reflect the highlight operational and financial performance in the industry SUZANO FIBRIA KLABIN Adjusted EBITDA¹ (R$ billion) 4.1 5.0 3.3 EV² (R$ billion) 27.4 32.0 28.4 Operational Cash Flow³ (R$ billion) 3.0 2.0 2.6 Potential EV² / Operational Cash Flow³ 9.3x 15.8x 11.0

  17. Slide 17: Investor Relations

    Investor Relations www.suzano.com.br/ir ri@suzano.com.br

Suzano — Non-Deal Roadshow (August 2017) on 6ix