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Investment PlanJune 8th, 2011

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.

Agenda

Highlights

Maranhão and Piauí Units

Suzano Renewable Energy

50% Conpacel Acquisition

Estimated Capex

04

07

11

13

15

784 915 1,080 1,100 1,100 1,100 1,100 1,290 1,290 1,290 1,290 1,290 1,290456 570 640 820

1,650 1,750 1,7501,920 1,920

3,420 3,420 3,420

4,920

1,240 1,485 1,720 1,920

2,750 2,850 2,8503,210 3,210

4,710 4,710 4,710

6,210

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e 2014e 2015e 2016e

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HighlightsSuzano’s Investment Plan

• 2011 Capex: R$3.5 billion

• Maranhão start-up : November/2013

• Decision to purchase Piauí’s industrial equipment: 1H14

• Estimated 2011 Net Debt/EBITDA: between 3.0x and 3.5x

• Pulp and paper growth cycle:

− CAGR 2004 - 2010: 18% p.a.

− CAGR 2010 - 2016: 14% p.a.

Piauí

Unit

Maranhão

Unit

Installed Capacity (tons, thousands)

‒ Metallic commodity price inflation (steel, aluminum, cement and etc)

‒ Appreciation of the Real against the Dollar

Suzano 2024Growth strategy consolidation and project scope review

5

Inflação

* Decision to purchase Piauí’s industrial equipment estimated for 1H14

Projects Review 2008 Jun/2011

Capacity 1.3 mm ton/year each 1.5 mm ton/year each

Additional energy capacity

Maranhão Not forecasted 100 MW

Piauí Not forecasted 100 MW

Start-up

Maranhão 4Q13 Nov/2013

Piauí 4Q14 1H16*

Possibility of own port No Yes

Industrial capex US$1.8 billion US$2.3 billion

• Launch of Suzano 2024:

− Regional leadership in paper: Conpacel + KSR (R$1.5 billion) on 01/31/2011− Renewable energy: launch of Suzano Renewable Energy on 07/29/2010 − Biotechnology: FuturaGene acquisition (US$84 million) on 07/19/2010

• Scope review of pulp growth projects:

Agenda

Highlights

Maranhão and Piauí Units

Suzano Renewable Energy

50% Conpacel Acquisition

Estimated Capex

04

07

11

13

15

Maranhão UnitFunding structured and industrial equipment purchase contracts signed

• 1.5 million tons/year of market pulp

• 100 MW of additional energy to be sold

• Board of Directors approved industrial equipment purchases: contracts with Metso and Siemens

• Start-up: November/2013, as originally announced

• Possibility of own port

• Partnership with Vale (Vale Florestar and railroad)

• 43 thousand ha of forest already planted

• Funding:

− BNDES: R$2.7 billion, 12-year maturity and 3-year grace period

− Mandatory convertible debentures: R$1.2 billion

− Funding for the imported equipment supported by foreign creditagencies (ECA’s among others)

− Cash flow generation

• Total capex up to 03/31/2011: R$396 million

(R$ million) 2009 2010 1Q11 2011e

Forestry 193 159 34 249

Industrial 0 4 7 905

Total 193 162 41 1,1547

Contracts signed with Metso and Siemens

• About 800 people working in the Maranhão Unit construction (earth-moving work : ~600 people)

• Over 1,600 people working in the forestry base (5% employees; 95% third-parties)

• Technical operational training has started: ~300 people

• Agreement for the training of around 6,000 people on construction work and services: ~ 400 people already undergoing training

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Maranhão UnitOver 3 thousand people in operation, infrastructure and training

Earth-moving work in Maranhão First class in ImperatrizMaranhão Unit OfficeCidelândia Nursery

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Piauí UnitDecision to purchase Piauí’s industrial equipment postponed until 1H14

• Total capex up to 03/31/2011 : R$353 million

• 47 thousand ha of forest already planted

• Most modern nursery in the world: 30 million seedlings/year

• 35 forest partnership contracts in the region: 6 thousand ha

• Long term railroad contracts guarantee production transportation (Transnordestina)

• Start-up: 1H16

• 100 MW of additional energy to be sold

(R$ milllion) 2008 2009 2010 1Q11 2011e

Forestry 3 162 91 97 165

Industrial 0 0 0 0 7

Total 3 162 91 97 172

Nursery Plan of Piauí’s nursery Nursery

Agenda

Highlights

Maranhão and Piauí Units

Suzano Renewable Energy

50% Conpacel Acquisition

Estimated Capex

04

07

11

13

15

• Suzano Renewable Energy launch: July/2010

• 3 units to produce wood pellets of 1 MM ton/year each by 2014

• Estimated start-up: 2013

• Pre operational capex: ~US$800 million

− 2011e capex: ~ R$170 million

− Equipment purchase estimated for 4Q11

• Ongoing private equity placement

• World leader

• Initial focus on the European market

Suzano Renewable EnergyCapital structure about to be defined

Wood pellets for energy, produced from renewable energy-oriented forests

• Advanced negotiationof final contracts with clients

• Engineering with Promon and Stolberg (Canadian)

• Specific clones selected

• Dedicated plantation (Energy Forests)

• Dedicated team

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Project update:

Agenda

Highlights

Maranhão and Piauí Units

Suzano Renewable Energy

50% Conpacel Acquisition

Estimated Capex

04

07

11

13

15

50% Conpacel AcquisitionRegional leadership in P&W paper and pulp capacity growth

• Additional capacity(50%): 170 thousand tons of market pulp and 190 thousand tons of paper

• Limeira Unity capacity: 340 thousand tons of market pulp and 380 thousand tons of paper

• Among the best paper assets in Latin America

• Conpacel 2010 EBITDA (50% Suzano) : ~R$250 million

• NPV of synergies: R$300 million

• Integration of Limeira Unit concluded in 1Q11

• #1 paper distribution channel in Latin America: KSR/SPP Nemo

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Limeira Unit (ex-Conpacel) Pulp Dryer

Agenda

Highlight

Maranhão and Piauí Units

Suzano Renewable Energy

50% Conpacel Acquisition

Estimated Capex

04

07

11

13

15

Maintenance CapexEstimated maintenance capex schedule

Main changes 2010 vs. 2011:

• Conpacel:

− Forestry: + R$46 million− Industrial: + R$26 million

• Mucuri maintenance capex increase

• Increase the planting program in order to recover the average forest age in Bahia

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(R$ million) 2010 2011e Normalized*

Forestry 232 345 330

Industrial 98 176 155

Total 330 521 485

* Figures do not include growth projects

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(R$ billion) 2011e

Growth 3.0

Maranhão Unit 1.1

Forestry 0.2

Industrial 0.9

Piauí Unit 0.2

Suzano Renewable Energy 0.2

Conpacel + KSR 1.5

Sustain 0.5

Total 3.5

Estimated 2011 CapexNet Debt/EBITDA for 2011 estimated at 3.0x to 3.5x, in line with investment grade status

Actions/Options to maintain leverage no higher than 3.5x net Debt/EBITDA:

• Mandatory convertible debenture issuance: R$1.2 billion

• Divestment of Capim Branco (81 MW of installed capacity and 51 MW of assured energy)

• Divestment of non-strategic land

• Strategic partnership

Note: figures do not include investments in port, branch rail line and others

0.5 0.5 0.5

3.03.5

1.7

3.54.0

2.2

2011e 2012e 2013e

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Capex (R$ billion)

Sustain Growth

The continuity of the Company’s investment plan is tied to project profitability and investment discipline, supported by:

• Financial solidity

• Compatible financing conditions: long term and competitive costs

• Consistent track record

• Investment grade status

Note: figures do not include investments that may be outsourced (port, branch rail line and others)

Investiment PlanGrowth projects will be developed with discipline, respecting Company’s financial solidity

Actions/Options to maintain leverage no higher than 3.5x net Debt/EBITDA from 2012 onwards:

• Divestment of non-strategic land

• Energy pre-sale

• Possibility of outsourcing activities: port, branch

rail line, water and effluent treatment

• Strategic partnership

• Equity

784 915 1,080 1,100 1,100 1,100 1,100 1,290 1,290 1,290 1,290 1,290 1,290456 570 640 820

1,650 1,750 1,7501,920 1,920

3,420 3,420 3,420

4,920

1,240 1,485 1,720 1,920

2,750 2,850 2,8503,210 3,210

4,710 4,710 4,710

6,210

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013e 2014e 2015e 2016e

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HighlightsSuzano’s Investment Plan

• 2011 Capex: R$3.5 billion

• Maranhão start-up : November/2013

• Decision to purchase Piauí’s industrial equipment: 1H14

• Estimated 2011 Net Debt/EBITDA: between 3.0x and 3.5x

• Pulp and paper growth cycle:

− CAGR 2004 - 2010: 18% p.a.

− CAGR 2010 - 2016: 14% p.a.

Piauí

Unit

Maranhão

Unit

Installed Capacity (tons, thousands)

Investor Relations Team

Investor Relationswww.suzano.com.br/ir

Antonio Maciel (CEO and IR Director) +55 (11) 3503-9061 ri@suzano.com.br

Andrea Fernandes (IR Executive Manager) +55 (11) 3503-9062 andreaf@suzano.com.br

Áurea Portugal (Assistant) +55 (11) 3503-9061 aportugal@suzano.com.br

Fernanda Nardy (Analyst) +55 (11) 3503-9066 fnardy@suzano.com.br

Michelle Corda (Analyst) +55 (11) 3503-9359 mcorda@suzano.com.br

Rosely Onizuca (Analyst) +55 (11) 3503-9355 ronizuca@suzano.com.br

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