The document summarizes key information about Suzano Pulp and Paper's Paper Business Unit. It discusses Suzano's leadership position in the Brazilian paper market, with a production capacity of 1.1 million tons per year. It notes that more than 90% of Suzano's paper production is integrated with its pulp production. This provides operational synergies and helps hedge against cyclical pulp price fluctuations. The Paper Business Unit supplies approximately 400 clients, with 300 located in Brazil, and has 10 paper machines across 5 production plants.

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.
2

3. Agenda
Corporate Overview 4
Forestry Business Unit12
Pulp Business Unit 19
Paper Business Unit 26
Results 34
New Growth Cycle 42
3

4. Corporate Overview

5. Suzano Pulp and Paper
Ownership and Management
Defined controlling • Second largest eucalyptus pulp
group producer in the world and one of
• Reputation
• Long term vision the top 10 market pulp producers.
• Leader in the regional paper
market
• Certified plantations and products.
Capital markets
• Management performance • New growth cycle: from 2.8 to 7.2
assessment million tons per year of paper and
• Transparency
• Funding for growth pulp.
• Pulp production costs: one of the
lowest in the world.
• Solid business structure abroad.
Professional • Capital markets presence: free
management
• Capital discipline float of 45%.
• Rapid decision-making
process
5

6. Diversified products and markets
Balanced and complementary portfolio
Papers (58% of net revenue)
Market pulp Printing and Writing (45% of net revenue)
(42% of net rev.) Paperboard
Uncoated Coated (13% of net rev.)
(38% of net rev.) (7% of net rev.)
2nd largest 2nd in Brazil 1st in Brazil 1st in Brazil
eucalyptus pulp
Market share: 27% Market share: 19% Market share: 25%
producer in the world
R$ 4.0 billion in net revenue
58% in exports / 42% in domestic market
Note: Market share figures include paper imports.
Data: Last 12 months until Mar, 2010. 6

7. Sustainable growth
Suzano’s production capacity has increased by 130% 7,150
in the last five years. The Company is prepared for a New unit
and Mucuri
new growth cycle that will increase its capacity to 7.2 expansion
million tons per year of pulp and paper.
Piauí Unit
Maranhão Unit
2,750 2,850
1,920
1,485 1,720
1,200 1,240
Note: The effective capacities will depend on the learning curves.
7

8. Corporate structure
BD committees
Management
Board of Directors (BD) Sustainability and
The Business Units model
provides performance and 9 members (4 independent) Strategy
returns assessments in each
business Audit
CEO
SP Operations Forestry BU Pulp BU Paper BU
SP Strategy, BU: Business Unit
Corporate Dev. and IR
SP Finance Objectives:
SP Human
• Greater focus on customers
Resources • Improved accountability
• Development of leaders
SP: Service Providers
8

9. Management model
Operational Excellence Alignment of Interests
• Six Sigma • Executives compensation based on
• Routine management EVA metrics
• Matrix budgeting • Higher variable portion in total
compensation
Corporate Risk Management Strategic Planning
• COSO1 methodology • Focused on Value Based
• Corporate governance structure Management (VBM)
based on committees – direct report • Innovation and R&D
to the directors and Board. • Sustainability
Awards and Certifications
¹Internal control methodology of the Committee of Sponsoring Organizations of the Treadway Commission
9

10. Sustainability
Triple Bottom Line – GRI approach
Financial and Economic
• Growing scale and revenues
• Improving margins and returns
• Solid cash flow generation
Social
Environment • Focus on education:
• FSC – forest management and custody – Public libraries
chain management – Public schools remodeling
• CCX e WBCSD member – Educational programs
• ECOFUTURO (Parque das Neblinas) (with ECOFUTURO)
FSC – Forest Stewardship Council
CCX – Chicago Climate Exchange WBCSD - World Business Council for Sustainable Development 10

11. Growth platform
Consolidated
presence in the Consolidated
New growth
Competitive main pulp
cycle with management
assets with markets and
competitive structure and
global scale leader in the
regional paper projects model
market
Qualified team that combines diversity and focus on execution
11

12. Forestry Business Unit

13. Forestry competitiveness
Brazil: high productivity,
forestry technology, low
production costs and
available areas for
expansion
Forest Planted Planted Planted Native
Harvest cycle
7 8 12 80
(years)
Indonesia, Spain, Canada,
Malaysia Portugal, Finland
Main producers Brazil
and Chile and and
Vietnam Uruguay Sweden
13

14. Evolution with state-of-the-art technology
Forest yield evolution (m³/ha/year)
Technology innovation Clones
Monoprogeny planting Biotechnology
Soils and nutrition
• More wood/ ha 44
Classic
• More pulp/ m 3 improvement
• Higher quality 29 31
• Less planting areas 21
• Lower costs
1960 1970 1991 1998 2008
Productivity (admt¹/ha/year)
Biotechnology
Classic improvement
11
5.5
100%
1980 2008
¹admt: air dried metric ton
14

15. Lands and forests
Own land (tsd ha)
State
Forests Total Planted
average
distance: SP 87 47
75 Km BA, ES and MG 216 125
MA and PI 194 38
Conpacel¹ (SP) 56 40
Forests
average Total SPC³ 553 250
distance: Independent
246 Km - 94
farmers3
Plants
Ports
Forests
Total preservation area:
¹ Conpacel: corresponds to 50% of former Ripasa’s areas.
² Does not include infrastructure and available land for planting. 252 tsd ha2
³ Does not include new sites announced, except for land acquired from Vale.
Suzano’s production is based on 100% renewable eucalyptus planted forests. Preserved native
forest area of approximately 40% of own land.
15

16. DNA Suzano: pioneering and innovation
Soil and climate conditions similar to Australia’s
facilitated the development of superior clones in
Brazil (innovation and R&D)
1980 1990 2000
16

17. New forest frontiers
North and Northeast: new expansion
frontiers in eucalyptus’ plantations in
Brazil. Suzano presents technological and
Planted forests still
positioning advantage.
represent a small part
of the available area in
Brazil.
Growth cycles
Last frontier: Semiarid (2010’s and
20’s): North and Northeast region
Source: IBGE,2007 1980’s and
90’s: ES
and South
Planted areas (MM ha)
BA
5.6 6.6 8.1
2000’s: Middle- 1960’s and 70’s:
west and farthest South and
South Southeast
regions
Source: BRACELPA / FAO / FBU
17

18. Forestry Business Unit priorities
Consolidate Explore new
business Focus on cost Long term view
operations in
opportunities reductions, wood in research and
the Northeast
related to the logistics and development and
region: states
forestry base operational forestry
of Maranhão
and Suzano’s excellence technology
and Piauí
competences
18

19. Pulp Business Unit

20. Overview of the pulp and paper production chain
51% 185
Minerals
8%
391 8% 362 Recycled
Global production of 8%
paper and Total fiber needed 49% 177
paperboard
Virgin fiber
391 28% 50 72% 127
Printing and Writing
Market pulp Integrated pulp
(13% of total fibers)
Paperboard
Million Tons
Tissue
Production 2008 (MM ton)
Corrugated
Newsprint
Others Market pulp still represents the smaller part of the fiber used for
paper production.
New paper capacities are being installed near to consumer markets,
while cash cost drives implementation of new pulp capacities.
Source: Poyry, 2008
20

21. Pulp demand growth drivers
Global paper demand growth (2008-15) of 2.2% per year: Chinese and Latin
American markets, including Brazil, outperform global growth rate.
Paper demand growth (2008-15)
391
Printing and Writing
Million Tons
Paperboard
Tissue
Corrugated
Newsprint
Others
Annual growth per paper segment
P&W 1.8%
P&W: printing and writing Tissue 3.2%
Source: Poyry, 2008
21

22. Brazilian pulp cash cost: structurally low
US$ / ton (CIF/ North Europe)
US$ 497 - 707 / t
700 US$ 439 - 579 / t
US$ 355 / t
600
Canada (British Columbia)
500
France, Austria and Belgium
Canada (BC Coast)
Canada (East)
Iberia, Norway and Sweden
400 US$ 322 – 340 / t
France and Belgium
Canada
Finland
Japan
Sweden
SUZ 300
USA
Sweden
Japan
Finland
USA
China
Indonesia
Chile
Chile
Brazil
Low Cost High Cost Low Cost High Cost
MM ton1 15,0 8,8 2,1 14,5
Hardwood Softwood
1Includesworld total production of market pulp, not only the highlighted countries.
Source: Hawkins Wright, April / 10 - Volumes do not include production of unbleached pulp and high yield pulp.
22

23. Pulp Business Unit highlights
1,780
1,320
86%
615 799 80%
81% 78% 385
20% 14% 83%
19% 22% 17%
• Total production capacity of 2.6 million tons per year. Market pulp represents 1.8 million
tons
• Sales of 1,780 Kton in 2009 and 385 Kton in 1Q10
• Net revenue of R$ 1,609 million in 2009 and R$ 448 million in 1Q10
• 86% of total sales destined to exports in 2009: more than 40 countries, China being the
main destination
• Production cash cost: one of the lowest worldwide
• Organic growth projects increasing capacity by 4.3 million tons per year in the next years
23

24. Commercial approach
• Local presence in international markets: Asia, Europe and North America
• Technical support in each international office.
• Strong presence in China, with close market relationships and long term contracts
• FSC certified pulp
• More than 150 active clients
P&W: printing and writing 24

25. Pulp Business Unit priorities
Focus on Start up of the
operations: Local presence MA and PI
cost and in main global projects – new
logistics markets growth frontier
efficiency in Brazil
25

26. Paper Business Unit

27. Global paper demand
456
391 398
Suzano’s
focus
• Global paper demand growth (2008-2015) of 2.2% per year:
– P&W: +1.8% p.y.
– Paperboard: +2.3 % p.y.
• Industry is still considered fragmented, but with significant regional concentration
• Emerging markets lead the supply and demand growth
P&W – Printing and writing / Paperboard includes Liquid paperboard
Source: Poyry – March, 2009
27

28. Demand growth drivers
Historically, there is a high correlation between GDP per capita and paper
consumption. In Brazil, the positive economic growth forecasts represent
an important driver for the domestic paper demand.
Paper consumption x GDP per capita
Consumption, kg per capita
350 Education
USA
300 Digital printing
250 Sweden Customized
Taiwan Japan
200 Korea, Rep.
media
150
100 UK Smart
China packaging
50 Spain
Brazil Electronic
0
0 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 45.000 media
GDP per capita, US$ Plastics
India = 7kg USA = 300kg
Source: Poyry, 2008
28

29. Brazil and Latin America: Suzano’s main markets
• Economic growth and increase in the
industrial activity
• Education level improvement and
access to new technologies
• The P&W and PB demand is
expected to grow at a rate of 4.1%,
from 2010 to 2014: outperforming
the capacity increase in the region
• Latin America: net importing region
• Competitive advantage: geographic
proximity, lower logistic costs and
shorter lead times
¹P&W: printing and writing / PB: paperboard and liquid paperboard
Source: RISI Latin America Forecast – August/09
29

30. Paper in Brazil
The markets in which Suzano
operates correspond to 31%
of total consumption, or
2.6 million tons.
Main seasonal factors in the domestic paper demand:
• Government purchases for textbooks
• Notebook exports
• Back to school season
• Year end holidays (packaging)
Paperboard does not include liquid paperboard
Source: Bracelpa – 2009 30

31. Paper Business in Suzano
More than 90% integrated production (pulp + paper)
• Fx hedge: approximately 60% of paper
revenue in local currency
• Hedge against the cyclicality of pulp prices
• Operational synergies: drying / repulping,
transport, taxes, environmental
infrastructure synergies
• Production capacity of 1.1 million ton
per year
• Approximately 400 clients, 300 in Brazil
• 5 productive plants
• 10 paper machines
• Strong brands: Report, Reciclato,
Paperfect and others
• 2 paper merchants
31

32. Paper Business Unit highlights
• Net revenue of R$ 2.3 billion in 2009 and R$ 522 million in 1Q10
• Brazil and Latin America represent approximately 70% of total sales in 2009
• Profitability and risks define sales distribution in different regions
• Leadership in Printing & Writing and white paperboard in South America
• 2 own paper merchants – SPP NEMO (2nd largest in Brazil) and Stenfar (Argentina)
• Complementary graphic and consumption portfolio
1,071 1,098 1,162 1,116
37% 41% 43% 53%
63% 59% 57% 47% 257
46%
54%
32

33. Paper Business Unit priorities
Portfolio
management, Regional Logistics and Discipline in
sales and regional leadership in the commercial growth
mix, focusing on main white paper approach opportunities
operational margin segments excellence assessments
and return
33

34. Results

35. Results 1Q10
Results 1Q10 4Q09 1Q09 1T09/4T09 1Q10/1Q09
Sales volume (Kton) 642 720 654 - 10.8% - 1.8%
Paper sales (Kton) 257 307 233 - 16.3% + 10.3%
Pulp sales (Kton) 385 413 421 - 6.6% - 8.5%
Net revenue - R$ Million 971 1,020 943 - 4.8% + 2.9%
Net income - R$ Million 130 136 90 - 4.6% + 45.0%
EBITDA - R$ Million 504 255 316 + 97.7% + 59.7%
EBITDA - US$ Million 279 147 136 + 90.6% + 105.0%
EBITDA margin 51.9% 25.0% 33.5% 26.9 p.p. 18.5 p.p.
Average exchange rate
1.80 1.74 2.32 + 3.7% - 22.1%
(R$/US$)
Net debt 4,088 3,966 5,338 + 3.1% - 23.4%
Net debt / EBITDA (LTM) 3.4 3.9 3.7 n.a. n.a.
Note: Since 2008, contemplates the adjustments of Law 11.638/07
35

36. Results 2009
Results 2009 2008 2009/2008
Sales volume (Kton) 2,896 2,482 16.7%
Paper sales (Kton) 1,116 1,162 - 4.0%
Pulp sales (Kton) 1,780 1,320 34.8%
Net revenue - R$ Million 3,953 4,064 - 2.7%
Net income - R$ Million 878 (451) n.a.
EBITDA - R$ Million 1,021 1,469 - 30.5%
EBITDA - US$ Million 511 800 - 36.2%
EBITDA margin 25.8% 36.2% - 10.3 p.p.
Average exchange rate (R$/US$) 2.00 1.84 8.9%
Net debt 3,966 5,459 - 27.4%
Net debt / EBITDA (LTM) 3.9 3.7 n.a.
Note: Since 2008, contemplates the adjustments of Law 11.638/07
36

37. Net revenue and EBITDA
4,064 3,953
3,410
3,099
2,787
54% 58%
42% 47%
47%
971
60%
53% 58% 53% 46% 42% 40%
1
Note: the adjustments of Law 11.638/07 are contemplated since 2008.
1 includes non recurring items: sale of forestry asset
37

38. Debt profile
Implementation
of Mucuri project Start up of line
(Line 2) 2 at Mucuri
Acquisition
of Ripasa
Note: the adjustments of Law 11.638/07 are contemplated since 2008.
1Q10 EBITDA represents last 12 months figure. 38

39. Debt amortization schedule
Adequate debt amortization schedule and liquidity profile:
• R$ 2.4 billion in March 31st,2010
• Competitive debt costs
• Suzano’s rating: A+ (bra) in May/10
39

40. Capital markets
Increasing daily number of trades and recovery of higher average daily volumes
40

41. Stock performance
Stock Performance
250%
240.7 (SUZB5)
230%
210%
190%
170% 172.0 (IBOV)
158.0 (IBrX50)
150%
130%
110%
90%
70%
41

42. New Growth Cycle

43. New growth cycle
Considering the new projects, pulp annual
capacity will increase 4.3 million tons and the New unit and
total installed capacity will reach 7.2 million Piauí Mucuri
tons per year. Maranhão Unit expansion
Unit
7,150
5,450
4,150
2,850 2,850 2,850 2,850
Mucuri Unit and new pulp line: analysis of the global economy and pulp market outlook for
definition of the implementation schedule and start up.
1 The effective capacity will depend on the learning curves 43

44. Maranhão Unit
Necessary planted area: 133 tsd ha Final agreements with Vale in July
2009:
• Acquisition of Vale’s forestry assets in
Wood supply Maranhão: 84,5 thousand ha of land
(2013-2028) (34,5 thousand ha already planted)
• Acquisition of eucalyptus timber from the
Vale Florestar Program, starting in 2014
until 2028
• Technology cooperation agreement
• Railroad transportation for the pulp
output to the port region of São Luiz until
2043.
• Start up in 2013 ensured with Vale’s
forestry assets (planted forest) – on a
competitive basis
2009 to 2015 2011 to 2014
Forestry Capex US$ 200 Million Industrial Capex US$ 1,8 Billion
44

45. Piauí Unit
• Final agreement with
Necessary planted area: 160 tsd ha Transnordestina in July 2009:
Wood supply • Railroad transportation for the
(2015 onwards) pulp output from Piauí to the
port region of São Luiz until
2028
• Planting already started in MA
licensed area
• Start up of Piauí unit scheduled for
2014, ensured with 5.5 years old
forest
2009 to 2015 2012 to 2015
Forestry Capex US$ 370 Million Industrial Capex US$ 1,8 Billion
45

46. Maranhão and Piauí units
Maranhão Unit Piauí Unit
46

47. Key messages
Leading player in the regional paper market and one of the top
Leadership 10 market pulp producers
Competitiveness One of the lowest cash costs in the world
Vision Solid organic growth strategy
Consolidated management structure/model and alignment with
Management shareholders
Capital Disciplined capital structure management
structure
47

48. Investor Relations
www.suzano.com.br/ri
+55 (11) 3503-9061
ri@suzano.com.br
48

49. Experienced and active Board of Directors
Experience of 36 years in the pulp and paper industry. CEO of Suzano Holding S/A, Chairman of the Board of Directors of Suzano
DAVID FEFFER, 53 Pulp and Paper S/A and Coordinator of the Management Committee. CEO of IPLF Holding and Nemopar Investimentos Ltda. CEO
Chairman and Vice President of the Board of Directors of Polpar S/A. Vice President of Premesa S/A and Vocal.
Experience of 32 years in the pulp and paper industry. Member of Sustainability and Strategy Committee, Chairman of Polpar’s
DANIEL FEFFER, 50 Board of Directors, President of Premesa, Corporate VP of Suzano Holding, IPLF Holding and Nemopar, President of Vocal and
Vice Chairman Nemonorte, Chairman of Ecofuturo Institute’s Board of Directors.
Experience of 35 years in the pulp and paper industry. Vice President of FIESP. Member of BRACELPA’s and IBEF’s Advisory
BORIS TABACOF, 81 Board. Chairman of the Board of Directors for the Brazilian Committee of Britain Brazil Business Forum.
Vice Chairman
Experience of 31 years in the pulp and paper industry. Member of the Board and the Committee of Sustainability and Strategy;
JORGE FEFFER, 49 Director of Premesa, Corporate VP of Suzano Holding and IPLF Holding, Executive Officer of Nemonorte and Vocal.
Executive Vice President of Suzano Holding S/A. Coordinator of Sustainability and Strategy Committee and member of Audit
Committee and member of the Compensation Commission of the Board of Directors; Former president of the board and CEO of
CLÁUDIO SONDER, 68 Hoechst of Brazil. Board of Directors member of Lojas Renner S/A, RBS Group, Cyrela Brazil Realty, OGX and Chemical Group
DSM/Holanda.
Senior partner of Machado, Meyer, and Sendacz Opice Lawyers and former member of the Board of Directors of OAB Brazil.
ANTONIO MEYER, 63 President of CESA. Former Legal Adviser and Chairman of the Legislative Committee of the American Chamber of Commerce and
Director of ABRASCA’s Legislative Committee. (Independent)
Member of Audit Committee. Senior partner of Integra Associates. Member of Gerdau S/A’s Board of Directors, Metalúrgica
Gerdau, Sao Paulo Alpargatas, Localiza, and Johnson Electric (Hong Kong); Board Member of Bunge Brazil and Alcoa Brazil.
OSCAR BERNARDES, 63 Oscar was President of Bunge International and Managing Partner in Booz-Allen & Hamilton. (Independent)
Coordinator of Suzano Pulp and Paper’s Audit Committee. Member of the Board of Directors of TAM Airlines and TAM Aviação
MARCO BOLOGNA, 54 Executiva. Former CEO of TAM Airlines and WTorre. (Independent)
Co-Chairman of the Board of Directors of BRF-Brasil Foods. Board member of WEG S/A, Ultrapar Participações S/A and Iochpe-
NILDEMAR SECCHES, 61 Maxion S/A. Former CEO of Perdigão Group. Former Director of the National Bank for Economic and Social Development -
BNDES, and General Director of Corporate Group Iochpe-Maxion Industrial Holding. (Independent)
49

50. Distinguished management team
Chief Executive Officer, 4 years at Suzano. Member of the Board of Director Member of Marfrig Frigoríficos. Vice President of
ANTONIO MACIEL BRACELPA. Former member of the Board of Director of SEBRAE, Gradiente, Cecrisa and Amcham. Former Chaiman of Ford Brasil
NETO, 52 and Ford Latin America, Itamarati Group, Ferronorte and Cecrisa and former Executive of Petrobras and the Federal Government.
Mechanical Engineer graduated at UFRJ.
Pulp Business Unit Executive Officer, joined Suzano in 2009. Former CEO of European operations of RGM Group and
ALEXANDRE Commercial Director of Aracruz. Graduated in Business Administration at Fundação Getulio Vargas (FGV).
YAMBANIS, 58
Chief Financial Officer, also responsible for the Legal Department, 15 years at Suzano. He has worked at Vale for 23 years as
BERNARDO Director, Executive Vice-President and member of the Board of Directors. PhD in Business Administration graduated at University of
SZPIGEL, 64 California, Berkeley. Mechanical Engineer graduated at ITA.
Strategy, Corporate Development and Investor Relations Executive Officer, 7 years at Suzano. Former Paper Business Unit
Executive Officer (2005-2008). Former Executive of JPMorgan in Brazil and NY (Investment Banking Global and Latin America),
ANDRÉ DORF, 37 Chase Manhattan and Banco Patrimônio/Salomon Brothers. Graduated in Business Administration at Fundação Getulio Vargas
(FGV).
Chief Operation Officer, 5 years at Suzano. Has worked as Expansion Project Director of Mucuri Unit. Former executive of Dow
ERNESTO Chemical Company, in Brazil, USA and Europe. Post-Graduated in Business Administration at FIA/USP.
POUSADA, 42
Forest Business Unit Executive Officer, 3 years at Suzano. Former executive of Champion Pulp and Paper and International
JOÃO COMÉRIO, 45 Paper as Global Forestry Strategy Officer in the USA. Post graduated in Forest Science and Wood Technology at USP – Piracicaba.
Paper Business Unit Executive Officer, 6 years at Suzano. Former Executive Manager of Suzano’s Pulp Business Unit and Sales
General Manager for Latin America at General Electric in the Industrial Systems Division. MBA degree at Ibmec-SP. Electrical
CARLOS ANIBAL, 40
Engineer at UFMG.
Human Resources Executive Officer, 2 years at Suzano. Former Human Resources Manager for Aviation Operations in General
Electric in Brazil and abroad, Global HR Director for Information Technology in the United States and HR Director for Mexico and
CARLOS GRINER, 46 Latin America. Former Executive of Carioca Engenharia, CR Almeida, Comlurb and Bureau Veritas. Post Graduated in Business
Administration at COPPEAD-UFRJ.
50