Suzano S.A.

According to IBÁ, domestic sales of printing and writing paper and paperboard decreased by 5% in 2024 compared to 2023, while imports increased by 13%.

Our domestic sales increased by 9% compared to 2023, as demand for printing & writing papers grew, influenced by the election cycle and resilient demand for uncoated paper , in comparison with the low sales volume of last year, when overstocked inventories hampered demand. Regarding paperboard, sales increased 6% compared to 2023 pushed by the good performance of the Brazilian economy and families’ consumption. On the tissue side, we experienced an upside as a result of the acquisition of Kimberly Clark's tissue business in Brazil, impacting 12 months on 2024. Overall, paper sales increased 11% to 1.44 million tons in 2024, compared to 1.29 million tons in 2023.

In 2024, our net revenue from paper sales totaled R$9,810 million, an 8% increase from 2023. Net revenue from domestic sales increased 8%, and sales outside Brazil increased 7%, with 74.0% coming from domestic sales and 26.0% from foreign markets The geographic breakdown of our total revenue from paper sales in 2024 was 86.2% in Latin America (including Brazil), 9.3% in North America and 4.5% in other regions.

The average net paper price in 2024 was R$6,832/ton, 3% lower than in 2023. In the domestic market, the average net paper price was R$7,254/ton, a 0.3% decrease compared to 2023. In the international market, average price was US$1,086/ton, a 15% decrease compared to 2023. In Brazilian real, the average price in the international market was R$5,853/ton, 9% lower than in 2023.