BTG Pactual – Pulp & Paper Day

2

Disclaimer

Certain statements in this presentation may constitute forward-looking statements. Such statements are

subject to known and unknown risks and uncertainties that could cause the Company’s actual results to

differ materially from those set forth in the forward-looking statements. These risks include changes in

customer demand for the Company’s products, changes in raw material costs, seasonal fluctuations in

customer orders, pricing actions by competitors, significant changes in the applicable rates of exchange

of the Brazilian real against the US dollar, and general changes in the economic environment in Brazil,

emerging markets or internationally.

01 | Pulp Market

02 | Suzano’s Pulp

03 | Pictures

4

Market pulp accounts for 15% of total fibers for paper production.

Pulp and Paper Production Chain

1 Bleached Eucalyptus Kraft Pulp | 2 Bleached Hardwood Kraft Pulp | 3 Bleached Softwood Kraft Pulp | 4 Included Unbleached Kraft Pulp and sulfite | 5 Includes Mechanical Pulp

Source: Poyry (2013) and PPPC (Fev/13)

23

2 9

19

4

2013e

221

31 51

111

2013e

Corrugated

Newsprint

Others

Million t

on Printing & Writing

Tissue Paperboard

414

Production (MM ton)

Minerals 8%

380

Total fiber

consumption

BSKP3

58

Others4

BHKP2

BEKP1

194

Recycled

186

Virgin fiber

128

Integrated

pulp

58

Market pulp5

414

Global

production of

paper

51%

49%

69%

31%

Mechanical Pulp

Pulp Demand Growth Drivers

5

Historically there is a high correlation between GDP and paper consumption

1 Excluding China and Japan

Source: 2010 paper consumption data from Poyry (nov/2011) and 2011 GDP per capita information from World Bank (fev/2013)

China

68 kg/ha/year

GDP per capita:

US$ 5 k

USA

233 kg/ha/year

GDP per capita: US$ 48 k

India

9 kg/ha/year

GDP per capita: US$ 1 k

Brazil

47 kg/ha/year

GDP per capita: US$ 13 k

North America

226 kg/ha/year

Latin America

44 kg/ha/year

Asia1

19 kg/ha/year

Europe

Western: 185 kg/ha/year

Eastern: 47 kg/ha/year

6

Pulp Demand

The competitiveness of eucalyptus fiber favors the replacement.

52 54

52 53 54

56 58 58 59 60 61 62

11

13

14 16 16

17 18 19

20 21

22 23

11

10 9 9 10 10 9 9 9 8 8

22 23 22

21 22

23 23 23 23 24 24 24

8 8 6 7 7 7 7 7 7 7 7 7

0

10

20

30

40

50

60

70

0

5

10

15

20

25

30

35

2006 2007 2008 2009 2010 2011 2012 2013e 2014e 2015e 2016e 2017e

Tota

l Mark

et V

olu

me

(MM

ton)

Volu

me b

y f

iber

type

(MM

ton)

Market Pulp BEKP Others BHKP BSKP Other1

CAGR BEKP: +6.7%p.a | Others BHKP: -1.7 %p.a.

CAGR BEKP: +6.4% p.a. | Others BHKP: -4.3%p.a.

2 3 4

1 Market Pulp: includes mechanical pulp | 2 Bleached Eucalyptus Kraft Pulp | 3 Other Bleached Hardwood Kraft Pulp | 4 Bleached Softwood Kraft Pulp| 5 Others: includes UKP, Sulphite and Mechanical Pulp

Source: PPPC (February/2013)

5

Brazilian Competitiveness

7

Suzano is in the lowest cash cost region

Source: Hawkins Wright (March/13)

*Other includes New Zealand, Argentina, China and South Africa.

Cash Cost CIF / Europe (US$/ton)

642 592

556

544

365

555 552

506 504 544

539 515 449

424

518

379

379 392

397 417

481

647

569

658

Swed

en

Jap

an

Fran

ce

Can

ada

Swed

en Ja

pan

U

SA

Bra

zil

Fin

lan

d

Oth

er A

sia

Fran

ce

Oth

er

USA

Fin

lan

d

Ch

ile

Ru

ssia

Ch

ina

Ind

on

esia

Afr

ica

Ru

ssia

Ch

ile

Iber

ia

Wes

t C

anad

a

BC

Co

ast

East

Can

ada

16.3 MM ton

Low Cost High Cost High Cost

22.6 MM ton 8.0 MM ton 9.6 MM ton

Low Cost

Hardwood Softwood

395 404 413 445

2011 2012 2013e 2017e

8

Pulp Global Consumption

Demand for paper is forecasted to grow 1.9% p.a. until 2017.

CAGR

+1.9% p.a.

Growth in paper demand is driven by

consumption growth in emerging markets

Consumption of tissue grows even in developed

countries, regions where P&W paper consumption

is declining

Eucalyptus pulp is highly suitable for

manufacturing papers for sanitary purposes

Paper Demand

(million ton)

Paper Demand Increase

(million ton)

Paper Demand by Segment – 2017e

Source: Poyry (2013)

413 445 24 3 3 (2) 4

2013e Asia LatinAmerica

Europe NorthAmerica

Other 2017e

CAGR 13e-17e Total Volume

Fins Sanitários +3.5% a.a. 4.6 Mt

Papelcartão +2.8% a.a. 5.8 Mt

Especiais +0.6% a.a. 0.8 Mt

I & E +0.5% a.a. 2.2 Mt

Outros +2.4% a.a 18.3 Mt

9

Pulp and Paper Start-ups

Paper capacities start-up are being implemented, mainly in Asia, to meet demand driven by significant paper consumption growth in the region.

Start-ups, Clousures, Conversions and Restarts until 2014

P & W

Tissue

Net new capacity until 2014

(million ton) Closure of uncompetitive pulp capacity

New tissue machines in Asia will demand

eucalyptus market pulp

Balanced market in 2013: the stronger paper

demand, mainly in Asia, absorbs the supply from

new pulp capacity

(1) Figure considers 0.4 Mton of expansion and 4,1 Mton projects under construction and start-ups until 2014: Montes Del Plata, Suzano – Maranhão Unit, Ilim, Stora – Enso Beihai and Oji (2) Figure includes 1.8 million tons of capacity closure and conversions and 0.04 million ton of capacity restarts

Source: Hawkins Wright Outlook (Dec/12) and Capacity Changes table (Feb/2013)

(million ton) Start-ups Closures, Conversions and

Restarts Total

Paper +4.6 -0.6 +4.0

Printing & Writing +1.1 -0.6 +0.5

Tissue +3.5 - +3.5

Market Pulp +4.51 -1.8² +2.7

• BSKP

• BHKP

• Others*

+0.6

+3.8

-

-0.4

-0.9

-0.5

+0.3

+3.0

-0.5

0.5

2.8

3.5

Paper Pulp

4.0

*Includes Mechanical Pulp, Sulphite and Unbleached

Absorption capacity of Pulp start-ups

10

4.0 Mt

New Paper Capacities

3.5 Mt Tissue

0.5 Mt P&W

New Paper Capacities per Segment

Considering 70% of consumption of virgin fiber

Considering 70% of consumption of virgin fiber

2.5 Mt

0.2 Mt

Virgin Fiber consumption

2.7 Mt

Virgin fiber additional demand

Balance: Supply / Demand

New capacities, Closures, Conversions and Restarts in 2013 and 2014

2.7 Mt

New Pulp Capacities Oji (+440Kt)

Ilim (+490Kt)

Montes del Plata (+1300Kt)

Suzano (+1500Kt)

Stora Enso (+400Kt)

Others(+355Kt)

Jari (-420Kt)

Domtar (-120Kt) Cloquet (-450Kt)

Others(-810Kt)

New Pulp Capacities

Pulp Closures

01 | Pulp Market

02 | Suzano’s Pulp

03 | Pictures

Corporate Overview

12

Suzano is a forestry-based company, publicly traded, controlled by Suzano Holding. Suzano operates in the pulp and paper businesses.

Structural competitive advantages

Pulp production costs: one of the lowest in the world

Leader in the regional paper market

Certified plantations and products

Organic growth in pulp

New business: biotechnology

Market cap: R$8.6 billion on 03/31/13

Controlling

Group

Treasury

56%

2%

Capital Structure (March/13)

Free Float 42%

Forests

Ports

Mills

Railroad

“Carajás”

Railroad

Maranhão

“Norte e Sul”

Railroad

Itaqui Port

Mucuri

Portocel

Vitória

Santos

Piauí

Limeira

Suzano Embu

Rio Verde

Forestry Assets

13

Suzano’s investment in R&D over many years allows the Company to expand its forestry assets to the northeast region of Brazil.

2013

Total area (k ha) 1 825

Total planted area (k ha) 2 440

Own planted area (k ha) 1 354

Forest Partnership Program (k ha) 86

Own Preserved Area (k ha)1 322

Average Distance in Bahia (km)2 73

Average Distance in São Paulo (km)2 237

Base 03/31/2013 1 Own and leased areas 2 Figures consider own, leased and third-parties areas

2013

Annual planting (k ha) 53

Planted seedlings / day (k) 219

Note: Both own and leased land can suffer variation up to 5% quarter over quarter.

The total amount can differ due to rounding.

SP

Total: 187 k ha

Planted: 117 k ha

BA, ES and MG

Total: 245 k ha

Planted:

132 k ha

MA, PI and TO

Total: 392 k ha

Planted: 105 k ha

SP

MG

BA

ES

TO

PI

MA

Maranhão Unit

Project Overview

Teresina

PARÁ

MARANHÃO

PIAUÍ

BAHIA

TOCANTINS

Imperatriz

São

Luís

Note: Cidelândia refers to the plantations in forestry assets acquired from Vale

CR

NSR

CEARÁ

MINAS GERAIS

GOIÁS

DF

ESPÍRITO

SANTO

RIO GRANDE DO NORTE

PARAÍBA

PERNAMBUCO

ALAGOAS

SERGIPE

Carajás Railway - CR

Norte Sul Railway - NSR

Maranhão Mill

Imperatriz Porto

Franco

Cidelândia

14

Forestry

25 year research history in the region

ￚ Annual nursery capacity near the site of 15 million of

seedlings

ￚ Competitive cost of land

Long-term timber supply: ~70% self-sourced from

Suzano own forest

Industrial

Scheduled start up for 4Q13

1.5 million ton/year eucalyptus market pulp

ￚ 100MW excess energy available for sale

State-of-the-art technology and top tier equipment

suppliers contracted

Capacitar Project

Logistics

Outbound local logistics based on railways

Export through a port located in the city of São Luís,

state of Maranhão

Strategically located for pulp distribution to the North

American and European markets

Management

Professional management with vast project execution

experience

15

Pulp Assets

Sustainable and organic growth: Presence in main international markets and strategic relationship with clients.

297 363 412 405

1,310 1,445 1,435 1,435

1,607 1,808 1,847 1,840

2010 2011 2012 LTM

Domestic Market Exports

Sales Volume

(‘000 ton)

Technical support at each international office: China, Switzerland and USA

80% of total sales through long-term contracts

Over 130 active clients

Long-term strategic partnerships with clients:

− Logistics

− Technology

− Pre- and post-sale technical assistance

Focus on value-added strategic segments

Brazil 22%

North America 9% 32% Europe

Latin America 2%

Asia 35%

Printing & Writing 23%

42%

Tissue

Special 26%

Packaging 8%

Others 1%

Pulp Sales Destinations

LTM

Pulp Sales per Segment

LTM

Note: Figures of last 12 months ending on 03/31/2013.

Production Capacity

16

784 915 1,080 1,100 1,100 1,100 1,100 1,290 1,290 1,290

456 570

640 820

1,650 1,750 1,750 1,920 1,920

3,420

1,240 1,485

1,720 1,920

2,750 2,850 2,850

3,210 3,210

4,710

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e

Maranhão

Unit

Paper Market Pulp

Suzano’s production capacity has increased by 70% in the last 6 years. The start up of Maranhão Unit will increase its capacity to 4.7 MM ton/year of pulp and paper.

Production Capacity

(‘000 ton)

17

Maranhão Unit

Dec/11 Mar/13

Earth moving Concluded Concluded

Overall physical

construction 11% 79%

Engineering 49% 97%

Procurement 7% 98%

Infrastructure

construction 34% 95%

Civil works 0% 88%

Suppliers contracted 70% Concluded

Eletromechanical

assembly 0% 31%

People working on

the construction of

Maranhão Unit

1,800

people

12,000

people

Dec/11

Mar/13

01 | Pulp Market

02 | Suzano’s Pulp

03 | Pictures

19

Pulp Bale

20

Overview

Maranhão Unit (April/2013)

21

Log Transporter from the wood yard

Maranhão Unit (April/2013)

22

Fiber Lines

Maranhão Unit (April/2013)

23

Drying

Maranhão Unit (April/2013)

24

Turbo generators and Boiler

Maranhão Unit (April/2013)

25

Caustification and Lime Kilns

Maranhão Unit (April/2013)

26

Water Treatment

Maranhão Unit (April/2013)

27

Effluent Treatment

Maranhão Unit (April/2013)

28

Cooling Towers

Maranhão Unit (April/2013)

29

Maranhão Unit (April/2013)

Control Room and Labs

Investor Relations

Investor Relations

www.suzano.com.br/ir

ri@suzano.com.br