2025 Annual Report

2025

Sustainability

RePORT

‌

‌TABLE OF CONTENTS

64. Social Performance

65 Human Rights

72 Poverty Reduction

78 People

90 Diversity, Equity and Inclusion

99 Health and Safety

104 Supply Chain

110. Environmental

Performance

141. Annexes

142 GRI Content Index

152 SASB Content Index

153 Assurance Statement

168 Credits

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3. Introduction

4 Message From the Chairman of Suzano's Board of Directors

6 Message From Suzano's CEO

1. About the 2025 Sustainability Report

2. Highlights

12. Organizational Profile

13 Who We Are

14 Global Presence

17 Products and Brands

24 Governance Structure

33 Risk Management

35 Ethics and Compliance

40. Sustainability Strategy

41 Positive Social and Environmental Impact

43 Commitments to Renewing Life

55 Stakeholder Engagement

57 Sustainable Finance

58 Materiality

62 Ecofuturo Institute

1. ‌INTRODUCTION

   Message From the Chairman of Suzano's Board of Directors
   
   Message From Suzano's CEO
   
   About the 2025 Sustainability Report
   
   Highlights
   
   

   ‌MESSAGE FROM

   THE CHAIRMAN OF SUZANO'S BOARD OF DIRECTORS

   GRI 2-22

   David Feffer

   Chairman of Suzano's Board of Directors

   ‌

   
   
   

   For over a century, we have learned that longevity means not simply enduring the passage of time, but also knowing how to listen to it, understand it and respond responsibly to the transformations it brings, without losing the essence of who we are. As Suzano evolves, we also reaffirm our commitment to leaving a legacy for future generations.

   We live in a time when global challenges are becoming increasingly complex and

   interconnected. In this context, one attribute has proven indispensable: the ability to anticipate and adapt.

   In 2025, we directed our energy to

   strengthening this adaptability and ensuring that we continue to advance toward the

   sustainable growth of the business. We are

   focusing our efforts on what generates shared value, for society and for Suzano, evolving in decisive levers to drive competitiveness and

   growth, with capital discipline, while remaining focused on operational excellence and

   capturing value from the more than R$70 billion invested in the last five years.

   An example of our movement in this direction was the announcement of a joint venture with Kimberly-Clark, which includes 22 plants in 14 countries and an installed capacity of 1 million tonnes of tissue per year. In line with our strategic lever of growth through value creation, this initiative marks Suzano's entry into the global consumer goods market.

   The pursuit of competitiveness and innovation continues to move forward alongside our respect for nature and society. At Suzano, sustainability is a structural component of the decisions that shape our future.

   This belief naturally led us to revise our sustainability strategy last year, making it even more cross-cutting and integrated into the business. The process involved adjustments in governance and the refinement of our Commitments to Renewing Life (CRLs), which are now organized into three axes-Climate,

   Nature and Social-reinforcing our intention to concentrate efforts where we can generate impact at scale and contribute to relevant global solutions.

   ‌None of these developments would be possible without the people who are part of Suzano: employees, customers, suppliers, partners, communities, investors, competitors and

   the general public. It is with them that we continuously learn and for them that we work in consistency with our strong-and-kind culture.

   This ambidextrous approach-which combines strength and kindness, quarterly results and long-term vision, boldness and humility, resilience and adaptability-has been critical to help us navigate different cycles, innovate and respond to change.

   This means adopting ambitious environmental, social and governance practices, while simultaneously pursuing solid operational and financial results, such as those presented in this Sustainability Report.

   The future we desire demands responsible choices and a clear vision of their effects over time. This is how we will continue to chart Suzano's path: remaining committed to renewing life inspired by trees and making concrete contributions toward a more sustainable and prosperous future for people and the planet.

   David Feffer

   Chairman of Suzano's Board of Directors

   "The pursuit of competitiveness and innovation continues to move

   forward alongside our respect for nature and society. At Suzano, sustainability

   is a structural component of the decisions that shape our future."

   ‌MESSAGE FROM

   SUZANO'S CEO

   GRI 2-22

   Beto Abreu

   Suzano's CEO

   ‌

   
   
   

   The year 2025 marked an important point in our journey. Despite the complex and challenging global environment, with intensified competition, we sharpened our focus on what generates the most shared value for the business and for society.

   We continue to be guided by two strategic avenues: boosting our competitiveness and growing with capital discipline. While the former ensures the operational rigor needed in the present, the latter establishes the foundations of our future. By prioritizing investments with higher added value and positive social and environmental impact, we ensure profitable growth aligned with our long-term vision.

   After completing a significant investment cycle-more than R$70 billion invested in the last five years, with R$40 billion allocated to the expansion and modernization of our assets-2025 became the time to reap the rewards of this effort. We developed structural measures to reduce our

   total operating expenses (OpEx) and made strides in efficiency, operational excellence and sustainability, preparing Suzano for future cycles.

   The Ribas do Rio Pardo site completed its first year in operation, producing 2.58 million tonnes of pulp, exceeding its nominal capacity. We expanded our consumer goods operation with the inauguration of a tissue mill in Aracruz and strengthened our position in ftuff pulp with a new line in Limeira, which will quadruple our current capacity. We also expanded fiber-to-fiber routes, incorporating our short eucalyptus fiber into applications that have traditionally used other fibers.

   The productivity of our farms-our main assets-evolved through a combination of advanced genetics, world-class silviculture and responsible management, supported by the planting of approximately 1.2 million seedlings a day.

   Another important highlight was an agreement signed with Eldorado, which involves the exchange of forest assets in Mato Grosso do Sul and will increase our operational efficiency by optimizing logistics and resources.

   Our internationalization efforts also progressed. In the United States, Suzano Packaging recorded its first positive adjusted EBITDA, one year after its integration. And we took a historic step with a joint venture with Kimberly-Clark: a US$1.7 billion investment that includes 22 plants in 14 countries, with an installed capacity of 1 million tonnes of tissue per year.

   ‌None of this would have been possible without the people who make Suzano happen: a team of people who inspire and transform and who

   drive us to go further. We are proud to know that 92% of employees recommend the company as an excellent place to work-a reftection of the strength and kindness that shape our culture.

   We also increased the percentage of women in leadership positions (functional manager and above) to 30.18%, reinforcing our commitment to diversity, equity and inclusion.

   We maintain our conviction that it is only good for us if it is good for the world. Therefore, we continue to improve our production and business models, having innovation as a cross-cutting axis and increasingly integrating sustainability into our strategy. We firmly believe that positive impact, competitiveness and value creation

   go hand in hand-a principle that guided the evolution of our sustainability strategy and accelerated our Commitments to Renewing Life, aligned with the UN SDGs.

   We also expanded dialogue with communities and strengthened our value chain, establishing partnerships that boost our environmental and social agenda. We recognize that these factors are essential for the resilience of our business model and for the development of the regions where we operate.

   In the social arena, we celebrated the milestone of helping lift 44,344 people out of poverty in 2025, through our initiatives and partnerships with development banks, international agencies, governments, the Brazilian S System and private social investors. In total, 141,686 individuals have been supported so far, moving toward the goal

   of lifting 200,000 people out of poverty in the areas where Suzano operates by 2030. This result, audited annually, demonstrates our ability to drive income generation with autonomy and support real transformation in people's lives.

   In the environmental area, we made progress toward our goal of connecting half a million hectares of land fragments in the Amazon, Atlantic Forest and Cerrado biomes-a key step in curbing biodiversity loss. In the last year, we incorporated 55,366 hectares into these ecological corridors, connecting a total of 214,368 hectares since 2020.

   I invite you to learn about our main results and achievements in 2025 on the following pages. Each development reinforces our purpose of renewing life inspired by trees and contributing to the creation of a more sustainable future.

   Beto Abreu

   CEO, Suzano

   "We maintain our conviction that it is only good for us if it is good for the

   world. Therefore, we continue to improve our production and business models, having innovation as a cross-cutting axis and increasingly integrating sustainability into our strategy."

   ‌ABOUT THE 2025 SUSTAINABILITY REPORT

   GRI 2-3

   ‌

   
   
   

   Published on March 23, 2026, this document details Suzano's main results and overall performance in the financial, social, environmental and governance dimensions, covering the period from January 1 to December 31, 2025. The report presents information about Suzano S.A., including data from the company's national and international operations and offices, Suzano Packaging, FuturaGene and the Ecofuturo Institute. GRI 2-2

   Prepared annually in alignment with the financial reporting period, this document aligns to the most relevant global guidelines, such as the Global Reporting Initiative (GRI) Standards, ensuring comparability and credibility. This includes

   the recent updates to Standard 101, focused on biodiversity, and Resolution 59 of the Brazilian Securities and Exchange Commission (CVM, in Portuguese), as well as alignment with the 17 United Nations (UN) Sustainable Development Goals (SDGs).

   The report also includes metrics from the Sustainability Accounting Standards Board (SASB) for the Paper & Pulp Products, Forest Management, and Containers & Packaging sectors. Additionally, it considers International Financial Reporting Standards S20 guidelines for Climate-Related Disclosures (IFRS S2), by the International Sustainability Standards Board

   (ISSB), which incorporated the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).

   This document was reviewed and approved by the organization's Statutory Executive

   Leadership Team and obtained limited assurance, in accordance with NBC TO 3000 (ISAE 3000), including, especially, inquiries to Suzano's management and other company executives involved in the compilation of information,

   as well as the use of analytical procedures to obtain evidence that enabled conclusions about the information taken as a whole. The process, conducted by PwC, involves leaders and executives in the consultation phases, as well as in the final opinion. GRI 2-5, 2-14

   Additionally, a Basis of Preparation details the parameters used for the indicators reported in this document. The Report and Basis of Preparation

   are part of a non-financial information hub, also known as the Suzano Sustainability Center, which contains a broader set of indicators, both material and non-material.

   Visit the

   Suzano Sustainability Center.

   Questions, suggestions and requests for more information can be directed via email to relatoriosuzano@suzano.com.br

‌

2025 Sustainability Report Introduction‌

HIGHLIGHTS

FINANCIAL CAPITAL

R$50.1 billion

net revenue

R$21.7 billion

adjusted EBITDA

R$13.9 billion

operating cash ftow¹

R$31.5 billion

added value

38%

of debt linked to sustainability commitments

1.Considers adjusted EBITDA minus maintenance Capex (cash basis).

NATURAL CAPITAL

1. 9 million1

hectares of land,

of which:

1.6 million²

hectares dedicated to production (14 times the area of the city of Rio de Janeiro)

seedlings planted per day

-43.3 million

2

tCO of carbon removals since 2020

1.Does not include wood from support arrangements, from the market and from Veracel areas. The data is assured and updated according to Suzano's geoprocessing procedures.

².Useful productive planted area eligible for fair value calculation: 1,228,834 hectares (Information also available in the 2025 Audited Consolidated Financial Statements).

3.Infrastructure mostly refers to the road network within a property (primary and secondary roads and farm tracks). It also includes power line, gas pipeline and oil well easements, as well as masonry buildings, nurseries, surveillance

towers, timber warehouses and mineral deposits.

MANUFACTURED CAPITAL

R$12.6 billion

in investments (Capex)

13.4 million

tonnes of market pulp capacity

2 million

tonnes of installed capacity for paper and other products

9

‌

2025 Sustainability Report Introduction

HIGHLIGHTS

HUMAN CAPITAL

22,235

company employees

32,844

23.5%

of leadership positions (managers and above) occupied by Black employees

1.4 million

hours dedicated to training and development

contractors 30.2%

of leadership positions (managers and above) occupied by women

INTELLECTUAL CAPITAL

R$ 199.2

million

invested in research and development

862

patents registered

or filed

78

cultivars protected or filed, of which 4 are GM cultivars

SOCIAL AND RELATIONSHIP CAPITAL

320,946

people benefited from social programs and projects

140,000+

people lifted out of poverty since 2020

R$55.6

million

invested in social programs and project2

2.Does not include tax incentives and donations.

10

‌

2025 Sustainability Report Introduction

ESG Ratings

In 2025, Suzano improved its ESG risk scores and assessments as published by rating agencies specializing in analyzing the environmental, social and governance performance of different organizations in the market.

MORGAN STANLEY CAPITAL

INTERNATIONAL (MSCI)

SUSTAINALYTICS

Increase of 0.2 points in the score, from 4.6 to 4.8, maintaining the BB rating.

Improvement of 0.9 in the score, to 16.8 (the lower the score, the lower the risk), remaining in the low-risk category.

CDP ECOVADIS SUSTAINABILITY RATING

A List classification (top tier) in Forests, with significant improvement in the three areas evaluated (after a drop in 2024).

Score of 89 (up from 87 in 2024), maintaining the platinum medal, awarded to the top 1% of companies. The international platform

assesses companies based on four key themes: environment, labor practices and human rights, ethics and sustainable procurement.

EVOLUTION OVER THE YEARS

‌2. ORGaNIzaTIONaL

PROfiLe

Who We Are

Global Presence

Products and Brands

Governance Structure

Risk Management

Ethics and Compliance

‌2025 Sustainability Report

Organizationa1 Profi1e

WHO WE ARE

‌

Suzano S.A. is a world leader in pulp production, one of the largest paper producers in Latin America and the leader in the toilet paper segment in Brazil. With a 102-year history, the company's purpose is "Renewing Life Inspired by Trees". And guided by this inspiration, Suzano strives to plant a sustainable future for the planet and future generations. GRI 2-1

This vision for the future is enabled by operational resilience and financial strength, which allow Suzano to bring solutions-which include pulp, paper, personal and hygiene products-to more than 100 countries.

Suzano is part of the lives of more than 2 billion people, approximately 25% of the world's population.

Each step taken in the last year reinforces the commitment to combining market strength with best practices in sustainability, transforming challenges into opportunities to drive innovation and to create a positive impact on society. GRI 2-6

For additional corporate information, visit https://www.suzano.com.br/en and the company's social media profiles:

Instagram @suzano_oficial

Facebook @suzanoempresa

LinkedIn @suzano

@suzano_oficial

100+ COUNTRIeS,

part of the lives of more than 2 billion people, approximately

25% of the world's population

‌GLOBAL PRESENCE

GRI 2-1, 2-6

‌

In 2025, Suzano operated in Brazil and abroad, conducting commercial, logistics, industrial and institutional activities. In Brazil, its operations encompass a network of industrial and forestry sites, as well as logistics facilities such as ports,

distribution centers and technology centers, which support the production and distribution of products. The complete list of countries where Suzano operates and/or has a presence can be

found in the 2025 Audited Consolidated Financial Statements.

14

‌

2025 Sustainability Report Organizational Profile

In Brazil GRI 2-1, 2-6

12 fully-owned plants +

1 plant in joint operation - Stora Enso (Veracel)

Bahia

Mucuri

Eunápolis - Veracel (joint operation)

Ceará

Maracanaú

Espírito Santo

Aracruz

Cachoeiro de Itapemirim

Maranhão

Imperatriz

Mato Grosso do Sul Ribas do Rio Pardo Três Lagoas

Pará

Belém

São Paulo Jacareí Limeira

Mogi das Cruzes Suzano

1 corporate headquarters

Salvador (BA)

4 technology centers

Aracruz (Espírito Santo); Itapetininga, Jacareí and Limeira (São Paulo)

29 distribution centers

1 central office

São Paulo (SP)

4 ports

Portocel, in Aracruz (Espírito Santo); Port of Itaqui, in São Luís (Maranhão); Port of Santos, in Santos (São Paulo); and Terminal Marítimo de Belmonte (BA)1

¹ The Belmonte Maritime Terminal serves Veracel.

Around the World

2 plants

United States: Pine Bluff (Arkansas); Waynesville (North Carolina)

2 technology centers

China (Shanghai); Israel (Rehovot)

9 international offices

Argentina (Buenos Aires); Austria (Vienna); China (Shanghai); Ecuador (Guayaquil); Israel (Rehovot); Netherlands (Amsterdam); Singapore (Singapore); South Korea (Seoul); United States (Fort Lauderdale)

‌Forestry base

12 fully-owned plants +

1 joint operation (Veracel)

4 ports

Offices

Around the World In Brazil

2 plants

9 international offices

Holanda

Israel

Netherlands

Austria Israel

United States China

South Korea

China

Singapore

Argentina

Ecuador

Netherlands

Áustria

Austria

Israel

EUA

China

United States China

Coreia do Sul

South Korea

Equador

Argen na

ura

Singap

Ecuador

Argen na

Singapore

16

‌PRODUCTS AND BRANDS

GRI 2-6, 3-3: PRODUCT DESIGN AND LIFE CYCLE MANAGEMENT

‌

Suzano's solutions and innovations are part of the everyday lives of people and organizations, meeting both individual needs and the demands from several value chains. The origin of this portfolio are trees, which are grown under

forest management and then transformed into sustainable materials. The company's farms, located Brazil, are dedicated to eucalyptus-which is grown exclusively for the production of pulp, paper and other bio-based inputs-and reestablished after each harvest cycle.

Through continuous investments in research, development and new technologies, Suzano increases the efficiency of its processes and strengthens its role in the bioeconomy, leveraging the use of renewable resources as an alternative to fossilbased materials. These are processes that combine functionality, innovation and environmental responsibility, while focusing on current and future needs of society.

Suzano's value chain encompasses everything from the supply of inputs and services to forestry and industrial operations, to the sale of pulp (including ftuff), papers for different uses and consumer goods. The pulp business serves primarily producers of toilet paper, printing and

writing paper, specialty papers and packaging, sold in Asia, Europe, Latin America and North America.

Across this value chain, bioproducts are key elements in the strategy to drive the transition to a renewable-based economy. By expanding the use of renewable fibers to replace fossil-based raw materials, such as plastic, the company establishes the fossil-to-fiber concept, which consists of using eucalyptus fiber in solutions that would traditionally use other non-renewable fibers or inputs.

In the ftuff market, the company primarily sells to manufacturers of absorbent products (such as baby and adult diapers, menstrual pads and pet mats, among others), focusing on markets such as Brazil, China, Japan, Mexico, European countries and the Middle East.

In the paper and packaging segment, Suzano engages with different players in the value chain, such as printing companies, converters and distributors, maintaining a close relationship with brand owners through joint projects. In this segment, the company emphasizes that it has

no direct involvement in supplying inputs to the tobacco value chain.

In the consumer goods sector, converting of final products takes place in seven industrial sites: Aracruz, Belém, Cachoeiro de Itapemirim, Imperatriz, Maracanaú, Mogi das Cruzes and Mucuri. Suzano's tissue business is divided into two main lines: consumer (at home) and professional (away from home).

‌PULP

Pulp - Suzano Biopulp

Fluff pulp - Suzano Eucaftuff®

PAPERS AND PACKAGING

Specialty paper - Bluecup®, Bluecup Bio®, Greenbag®, Greenpack Suzano®, Lin Suzano e Loop® and Loop®

Printing and writing - Report® A3 75g/m², Report® A4 75g/m², Report® A4 90g/m², Report® Reciclato A4 75g/m², Report® carta A4 75 g/m², Report® Coloridos A4 75g/m², Report® Ofício 2 75 g/m² and Senninha®

Uncoated paper - Alta Alvura Laser®, Alta Alvura Alcalino®, Paperfect Laser®, Paperfect Opaque®, Polén Bold®, Polén Natural® and Reciclato®

Paperboard - Super 6 Plus®, Supremo Alta Alvura®, TP White Plus®, TP White Plus® Carbono Neutro, TP White Pharma Plus® and TP White Pharma Plus® Carbono Neutro

Coated paper - Couché Suzano Fit Silk®, Couché Suzano Design Gloss®, Couché Suzano Design Matte® and Couché Suzano Fit Gloss®

‌HYGIENE

Diapers - Maxx Baby®

Napkins - Scott® Dia a Dia*, Scott® Grand Hotel* and Scala®*

Paper tissue - Kleenex® Bolso*, Kleenex® Kids Box* and Kleenex® Dia a Dia Box*

Toilet paper - Floral®, La Vie Blanc®, Max Pure®, Mimmo Folha Dupla®, Mimo Folha Tripla®, Mimmo Greenpack®, Mimmo® Lenços Umedecidos, Neve® Lenços Umedecidos, Neve Supreme® and Neve Toque da Seda®

Reusable paper cloth - Scott Duramax*

Paper towel - Scala®

Professional line - Kleenex®*, Neve®, Scott®* and Wypall®

* ®| TMTrademark under license from Kimberly-Clark Worldwide, Inc. or its affiliates. ©KCWW

‌Increased Competitiveness

As part of a continuous process of strategy evaluation and disciplined capital allocation, Suzano periodically reviews its portfolio of businesses and innovation initiatives. This exercise is key to ensuring that the company's investments are aligned with priorities and long-term value creation, and boosts its competitiveness in an increasingly challenging global environment.

In recent years, Suzano has made progress in the exploration of new technological routes and business models. However, as the company reached the end of a cycle of significant investments and homed in on execution, efficiency and return on invested capital, it decided to deprioritize some initiatives that,

although technically sound, no longer align with its current capital allocation guidelines.

The reassessment of its stake in Woodspin, its joint venture with Spinnova, for example, reftects this change. Suzano decided not to further invest in the business, including the plant inaugurated in Finland in 2024. The discontinuation of the microfibrillated cellulose (MFC) plant in the Limeira (SP) site follows this same focus, since its viability was directly linked to the scale and continuity of the Woodspin initiative.

After a comprehensive analysis that considered factors such as strategic alignment, technological efficiency and return on invested capital, Suzano also decided to discontinue its lignin business, including the Ecolig® product line. The decision aims to direct the company's competitiveness and efforts toward solutions with greater potential for long-term impact and scalability.

Commitments made to partners and customers are being honored, including technical support during the transition period.

In 2025, this move toward simplification also motivated the decision to close down operations at the research lab in Burnaby, Canada, and migrate its activities to Suzano's labs in Brazil, enabling the company to prioritize larger-scale and more competitive businesses.

Also in line with its focus on competitiveness and prioritization, Suzano is discontinuing Suzano Ventures, an initiative created to support and develop startups. Active partnerships will

be maintained and will be managed by the business units associated with the area of each project. The company believes that it is more effective and agile to monitor and collaborate with external startups that already offer mature solutions to business challenges, thus optimizing the innovation ecosystem and value creation.

Reftecting this move toward strategic focus and

asset optimization, Suzano also announced the end of operations at the Rio Verde site, on January 5, 2026. After in-depth studies and several diversification attempts, Suzano chose to concentrate its printing and writing paper

operations in sites that already manufacture these products: Suzano, Limeira and Mucuri, in Brazil, in addition to its international facilities in Pine Bluff and Waynesville, in the United States.

Following this review, investments in innovation have been concentrated on two key strategic areas. The first is forest biotechnology, focusing on increasing the productivity, resilience and efficiency of Suzano's farms. The second is the exploration of new applications of short fiber, as part of the fossil-to-fiber and fiber-to-fiber agendas, expanding the use of pulp in different renewable solutions that also replace fossilbased materials or other less competitive fibers, thus unlocking new sustainable markets.