DisclaimerCertain statements in this presentation may constitute forward-lookingstatements. Such statements are subject to...
AgendaCorporate Overview   4     Forestry Business Unit12           Pulp Business Unit 19                 Paper Business U...
Corporate Overview
Suzano Pulp and PaperOwnership and ManagementDefined controlling        • Second largest eucalyptus pulpgroup             ...
Diversified products and markets                               Balanced and complementary portfolio                       ...
Sustainable growth  Suzano’s production capacity has increased by 130%  in the last five years. The Company is prepared fo...
Corporate structure                                                                         BD committees                 ...
Management modelOperational Excellence                                          Alignment of Interests      • Six Sigma   ...
Sustainability                                   Triple Bottom Line – GRI approach                                        ...
Growth platform                   Consolidated                  presence in the       New growth          ConsolidatedComp...
Forestry Business Unit
Forestry competitiveness                                                  Forest yield (m³/ha/year)                       ...
Evolution with state-of-the-art technology                                                                    Forest yield...
Lands and forests                                                                                             Own land (ts...
DNA Suzano: pioneering and innovationForest yield Maranhão    (m³/ha/year)        Soil and climate conditions similar to A...
New forest frontiers                                     Land use in Brazil                                               ...
Forestry Business Unit priorities Consolidate      Explore new                   business            Focus on cost     Lon...
Pulp Business Unit
Overview of the pulp and paper production chain                                                                           ...
Pulp demand growth drivers                Global paper demand growth (2008-15) of 1.8% per year: Chinese and Latin        ...
Brazilian pulp cash cost: structurally low                                               US$ / ton (CIF/ North Europe)    ...
Pulp Business Unit highlights               Pulp sales (Kton)                       Pulp sales destinations – 9M10        ...
Commercial approach                Sales distribution                        Sales per segment - 2009                     ...
Pulp Business Unit priorities Focus on                        Start up of theoperations:   Local presence       MA and PI ...
Paper Business Unit
Global paper demand                                    Global paper demand (Million Tons)                                 ...
Demand growth drivers   Historically, there is a high correlation between GDP per capita and paper   consumption. In Brazi...
Brazil and Latin America: Suzano’s main markets      P&W and PB¹ demand (MM ton)                                   • Econo...
Paper in Brazil                                                     Brazilian paper consumption                           ...
Paper Business in SuzanoMore than 90% integrated production (pulp + paper)                         • Fx hedge: approximate...
Paper Business Unit highlights• Net revenue of R$ 2.3 billion in 2009 and R$ 1,802 million in 9M10• Brazil and Latin Ameri...
Paper Business Unit priorities     Portfolio  management,            Regional          Logistics and   Discipline insales ...
Results
Results 9M10                          Results                                       9M10               9M09       9M10/9M0...
Results 2009                          Results                                        2009              2008       2009/200...
Net revenue and EBITDA            Net Revenue (R$ million)                                                         EBITDA ...
Debt profile                             Implementation                            of Mucuri project                      ...
Debt amortization scheduleAdequate debt amortization schedule and liquidity profile:• Competitive debt costs• Cash: R$ 3.6...
Capital markets                 Recovery of higher average daily volumes and daily number of trades40                     ...
Stock performance       Stock Performance150%140%130%120%                                    112.9 (IBOV)110%             ...
New Growth Cycle
New growth cycle    Considering the new projects, pulp annual    capacity will increase 3.0 million tons and the    total ...
Maranhão UnitNecessary planted area: 154         tsd ha         Final agreements with Vale in July                        ...
Piauí Unit                                          • Final agreement withNecessary planted area: 170     tsd ha     Trans...
Maranhão and Piauí unitsMaranhão Unit           Piauí Unit                                           46
Key messages                    Leading player in the regional paper market and one of the top   Leadership       10 marke...
Investor Relationswww.suzano.com.br/ri+55 (11) 3503-9061ri@suzano.com.br                       48
Experienced and active Board of Directors                       Experience of 36 years in the pulp and paper industry. CEO...
Distinguished management team                    Chief Executive Officer, also responsible for Investor Relations Departme...
Institutional presentation october 2010
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Institutional presentation october 2010

  1. 1. DisclaimerCertain statements in this presentation may constitute forward-lookingstatements. Such statements are subject to known and unknown risks anduncertainties that could cause the Company’s actual results to differ materiallyfrom those set forth in the forward-looking statements. These risks includechanges in customer demand for the Company’s products, changes in rawmaterial costs, seasonal fluctuations in customer orders, pricing actions bycompetitors, significant changes in the applicable rates of exchange of theBrazilian real against the US dollar, and general changes in the economicenvironment in Brazil, emerging markets or internationally. 2
  2. 2. AgendaCorporate Overview 4 Forestry Business Unit12 Pulp Business Unit 19 Paper Business Unit 26 Results 34 New Growth Cycle 42 3
  3. 3. Corporate Overview
  4. 4. Suzano Pulp and PaperOwnership and ManagementDefined controlling • Second largest eucalyptus pulpgroup 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 5.9 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: freemanagement• Capital discipline float of 45%.• Rapid decision-making process 5
  5. 5. Diversified products and markets Balanced and complementary portfolio Papers (56% of net revenue) Market pulp Printing and Writing (42% of net revenue) (44% of net rev.) Paperboard Uncoated Coated (14% of net rev.) (35% 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: 26% producer in the world R$ 4.3 billion in net revenue 57% in exports / 43% in domestic marketNote: Market share figures include paper imports.Data: Last 12 months until Sep, 2010. 6
  6. 6. Sustainable growth Suzano’s production capacity has increased by 130% in the last five years. The Company is prepared for a new growth cycle that will increase its capacity to 5.9 5,850 million tons per year of pulp and paper. 1,500 Piauí Unit 1,500 Maranhão Unit 2,750 2,850 1,720 1,920 1,485 1,650 1,750 1,750 1,200 1,240 640 820 425 456 570 775 784 915 1,080 1,100 1,100 1,100 1,100 2003 2004 2005 2006 2007 2008 2009 New growth cycle Paper PulpNote: The effective capacities will depend on the learning curves. 7
  7. 7. Corporate structure BD committees Management Board of Directors (BD) Sustainability andThe Business Units modelprovides performance and 9 members (4 independent) Strategyreturns assessments in eachbusiness 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
  8. 8. Management modelOperational Excellence Alignment of Interests • Six Sigma • Executives compensation based on • Routine management EVA metrics • Matrix budgeting • Higher variable portion in total compensationCorporate 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 Certifications¹Internal control methodology of the Committee of Sponsoring Organizations of the Treadway Commission 9
  9. 9. Sustainability Triple Bottom Line – GRI approach Financial and Economic • Growing scale and revenues • Improving margins and returns • Solid cash flow generation SocialEnvironment • 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 CouncilCCX – Chicago Climate Exchange WBCSD - World Business Council for Sustainable Development 10
  10. 10. Growth platform Consolidated presence in the New growth ConsolidatedCompetitive main pulp cycle with managementassets with markets and leader in the competitive structure andglobal scale regional paper projects model market Qualified team that combines diversity and focus on execution 11
  11. 11. Forestry Business Unit
  12. 12. Forestry competitiveness Forest yield (m³/ha/year) 44Brazil: high productivity, 30forestry technology, low 20production costs and 1available areas forexpansion Eucalyptus Acacia Eucalyptus Pinus Suzano globulus 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
  13. 13. Evolution with state-of-the-art technology Forest yield evolution (m³/ha/year) Technology innovation Clones Monoprogeny planting Biotechnology • More wood/ ha Soils and nutrition 44 Classic • More pulp/ m3 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 2008¹admt: air dried metric ton 14
  14. 14. Lands and forests Own land (tsd ha) State Forests Total Planted average distance: SP 87 47 75 Km BA, ES and MG 220 126 MA and PI 300 77 Conpacel¹ (SP) 56 40 Forests average Total SPC 663 290 distance: Independent farmers - 94 246 Km Plants Ports Forests Total preservation area: 254 tsd ha2Suzano’s production is based on 100% renewable eucalyptus planted forests. Preserved nativeforest area of approximately 40% of own land.¹ Conpacel: corresponds to 50% of former Ripasa’s areas. 15
  15. 15. DNA Suzano: pioneering and innovationForest yield Maranhão (m³/ha/year) Soil and climate conditions similar to Australia’s facilitated the development of superior clones in 40 Brazil (innovation and R&D) 35 25101980 1990 2000 2013 E.camaldulensis E.pellita E.brassiana1980 1990 2000 16
  16. 16. New forest frontiers Land use in Brazil North and Northeast: new expansion frontiers in eucalyptus’ plantations in Planted Forest Brazil. Suzano presents technological and Corn Soybean Other 1% Planted 2% 2% positioning advantage. 11% forests still represent a Sugarcane 1% small part of the available Growth cycles Cattle area in 20% Native Brazil. Forest Last frontier: Semiarid (2010’s and 63% 20’s): North and Northeast regionSource: IBGE,2007 1980’s and 90’s: ES Planted forests in Brazil (area) and South Planted areas (MM ha) 16 BA 8.9 8 5.3 6.1 4 3.5 4.3 7.0 2 1 1.8 1.8 1.9 2005 2008 2020 2000’s: Middle- 1960’s and 70’s: west and farthest South and Pinus Eucalyptus South Southeast regionsSource: BRACELPA / FAO / FBU 17
  17. 17. Forestry Business Unit priorities Consolidate Explore new business Focus on cost Long term view operations in opportunities reductions, wood in research andthe Northeast related to the logistics and development andregion: states forestry base operational forestry of Maranhão and Suzano’s excellence technology and Piauí competences 18
  18. 18. Pulp Business Unit
  19. 19. Overview of the pulp and paper production chain 51% 182 Minerals 8% 388 8% 357 Recycled Global production of 8% paper and Total fiber needed 49% 175 paperboard Virgin fiber 388 28% 49 72% 126 114 Printing and Writing Market pulp Integrated pulp (13% of total fibers) 44 Paperboard Million Tons 27 Tissue Production 2008 (MM ton) Corrugated 203 Newsprint Market pulp still represents the smaller part of the fiber used for Others paper production. New paper capacities are being installed near to consumer markets, while cash cost drives implementation of new pulp capacities. 2008Source: Poyry, 2009 20
  20. 20. Pulp demand growth drivers Global paper demand growth (2008-15) of 1.8% per year: Chinese and Latin American markets, including Brazil, outperform global growth rate. Paper demand growth (2008-15) 388 5.0% 114 1.8% 1.8% Printing and Writing 0.4% Million Tons 44 Paperboard -0.4% 27 Tissue North Europe Latin China Global Corrugated America America 2008-15 Newsprint 203 Others Annual growth per paper segment P&W 0.9% 2008P&W: printing and writing Tissue 2.6%Source: Poyry, 2009 21
  21. 21. Brazilian pulp cash cost: structurally low US$ / ton (CIF/ North Europe) US$ 511 - 696 / ton US$ 441 - 651 / ton 700 US$ 367-398 / ton 600 Canada (British Columbia) 500 Canada (BC Coast) France, Austria and Belgium Canada (East) US$ 300 – 401 / ton South Korea 400 France and Belgium Japãn Iberia, Norway and Sweden Canada Finland USA 300 Sweden USA China Finland Sweden Indonesia Russia Chile Chile Brazil Low Cost High Cost Low Cost High CostMM ton1 18,3 7,1 3,1 14,7 Hardwood Softwood1Includesworld total production of market pulp, not only the highlighted countries.Source: Hawkins Wright, July / 10 - Volumes do not include production of unbleached pulp and high yield pulp. 22
  22. 22. Pulp Business Unit highlights Pulp sales (Kton) Pulp sales destinations – 9M10 1,780 18% 1% 1,320 33% 1,195 9% 799 86% 80% 39% 615 82% 78% 81% Asia Europe 19% 22% 20% 14% 18% North Am. South/Central Am. Brazil 2006 2007 2008 2009 9M10 Domestic Market Exports• 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 1,195 Kton in 9M10• Net revenue of R$ 1,609 million in 2009 and R$ 1.517 million in 9M10• 82% 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 3.0 million tons per year in the next years 23
  23. 23. Commercial approach Sales distribution Sales per segment - 2009 20% 12% 19% 41% 80% 28% With contracts Without contracts P&W Tissue Special Other • 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 clientsP&W: printing and writing 24
  24. 24. Pulp Business Unit priorities Focus on Start up of theoperations: Local presence MA and PI cost and in main global projects – new logistics markets growth frontier efficiency in Brazil 25
  25. 25. Paper Business Unit
  26. 26. Global paper demand Global paper demand (Million Tons) 438 388 401 121 Suzano’s 114 116 52 focus 44 46 27 29 33 203 210 232 2008 2010 2015 Other Tissue Paperboard P&W • Global paper demand growth (2008-2015) of 1.8% per year: – P&W: +0.9% p.y. – Paperboard: +2.5 % p.y. • Industry is still considered fragmented, but with significant regional concentration • Emerging markets lead the supply and demand growthP&W – Printing and writing / Paperboard includes Liquid paperboardSource: Poyry – 2009 27
  27. 27. 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 = 300kgSource: Poyry, 2008 28
  28. 28. Brazil and Latin America: Suzano’s main markets P&W and PB¹ demand (MM ton) • Economic growth and increase in the Latin America industrial activity • Education level improvement and access to new technologies 5.8 • The P&W and PB demand is 5.2 5.1 4.8 expected to grow at a rate of 3.9%, from 2010 to 2014: outperforming 3.0 2.9 3.1 3.7 the capacity increase in the region • Latin America: net importing region 2008 2009 2010 2014 • Competitive advantage: geographic Brazil Others proximity, lower logistic costs and shorter lead times¹P&W: printing and writing / PB: paperboard and liquid paperboardSource: RISI Latin America Forecast – July/10 29
  29. 29. Paper in Brazil Brazilian paper consumption 5% 6% 10% 25% The markets in which Suzano operates correspond to 31% 6% of total consumption, or 48% 2.6 million tons. Printing & Writing Paperboard Wrapping Tissue Other Newsprint 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 paperboardSource: Bracelpa – 2009 30
  30. 30. Paper Business in SuzanoMore 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
  31. 31. Paper Business Unit highlights• Net revenue of R$ 2.3 billion in 2009 and R$ 1,802 million in 9M10• Brazil and Latin America represent approximately 75% of total sales in 9M10• 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 Paper sales (Kton) Paper sales destination – 9M101,071 1,098 1,162 1,116 4% 10% 37% 41% 43% 53% 839 44% 11% 63% 59% 57% 47% 56% 19% 56%2006 2007 2008 2009 9M10 Domestic Market Exports Brazil South/Central Am. North Am. Europe Other 32
  32. 32. Paper Business Unit priorities Portfolio management, Regional Logistics and Discipline insales and regional leadership in the commercial growth mix, focusing on main white paper approach opportunitiesoperational margin segments excellence assessments and return 33
  33. 33. Results
  34. 34. Results 9M10 Results 9M10 9M09 9M10/9M09 Sales volume (Kton) 2,034 2,176 -6.5% Paper sales (Kton) 839 809 3.8% Pulp sales (Kton) 1,195 1,368 -12.6% Net revenue - R$ Million 3,319 2,933 16.2% Net income - R$ Million 518 725 - 28.5% EBITDA - R$ Million 1,325 766 73.0% EBITDA - US$ Million 744 367 102.5% EBITDA margin 39.9% 26.1% 13.8 p.p. Average exchange rate (R$/US$) 1.78 2.08 -14.6% Net debt 3,850 4,164 -7.5% Net debt / EBITDA (LTM) 2.4 3.6 n.a.All amounts in the table above include the adjustments introduced by the IFRS standards. 35
  35. 35. 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 959 (451) n.a. EBITDA - R$ Million 1,058 1,469 - 28.0% EBITDA - US$ Million 529 800 - 33.8% EBITDA margin 26.8% 36.2% - 9.4 p.p. Average exchange rate (R$/US$) 2.00 1.84 8.9% Net debt 4,111 5,459 - 24.7% Net debt / EBITDA (LTM) 3.9 3.7 n.a.All amounts in the table above include the adjustments introduced by the IFRS standards. 36
  36. 36. Net revenue and EBITDA Net Revenue (R$ million) EBITDA 39.9 33.5 33.6 36.2 4,064 3,953 32.8 3,099 3,410 3,319 25.8 2,787 42% 47% 54% 58% 47% 58% 53% 58% 53% 46% 42% 42% 913 1,040 1,146 1,469 1,021 1,325 1 2005 2006 2007 2008 2009 9M10 2005 2006 2007 2008 2009 9M10 Domestic Market Exports EBITDA - R$ million EBITDA Margin - %All amounts in the table above include the adjustments introduced by the IFRS standards.1includes non recurring items: sale of forestry asset 37
  37. 37. Debt profile Implementation of Mucuri project Start up of line (Line 2) 2 at Mucuri Acquisition of Ripasa 3.8 3.9 3.7 3.7 2.7 2.4 5,459 3,919 4,285 4,111 3,850 2,475 913 1.040 1,146 1,469 1,058 1,325 2005 2006 2007 2008 2009 9M10 Net Debt EBITDA (R$ MM) Net Debt/EBITDAAll amounts in the table above include the adjustments introduced by the IFRS standards. 38
  38. 38. Debt amortization scheduleAdequate debt amortization schedule and liquidity profile:• Competitive debt costs• Cash: R$ 3.6 billion on September 30th,2010• Suzano’s rating: Moody’s: Baa3 (Stable) – Investment Grade; S&P: BB+ (Stable) Amortization schedule (R$ million) 3,617 1,951 1,230 1,390 1,006 966 516 417 39
  39. 39. Capital markets Recovery of higher average daily volumes and daily number of trades40 3400 2,958 3,070 320035 3000 280030 2,280 2600 2,159 2400 2,033 1,91925 1,818 2200 1,644 200020 1,534 1,434 1,527 1800 1,319 1,289 1600 1,198 1,153 1,767 140015 1,061 820 787 1200 635 676 100010 800 600 5 400 6 5 4 7 15 13 12 16 16 18 18 17 16 12 25 34 22 26 23 15 13 200- 0 sep/09 nov/09 dec/09 sep/10 feb/09 feb/10 jun/09 oct/09 jan/10 jan/09 jun/10 mar/09 mar/10 may/09 may/10 apr/10 apr/09 aug/09 aug/10 jul/09 jul/10 Avg. Da ily V olume Numbe r o f Trade s (Daily) 40
  40. 40. Stock performance Stock Performance150%140%130%120% 112.9 (IBOV)110% 111.6 (SUZB5) 109.6 (IBrX50)100%90%80%70% 41
  41. 41. New Growth Cycle
  42. 42. New growth cycle Considering the new projects, pulp annual capacity will increase 3.0 million tons and the total installed capacity will reach 5.9 million Piauí tons per year. Maranhão Unit Unit 5,650 5,850 4,250 2,850 2,850 2,850 2,850 4,550 4,750 3,150 1,750 1,750 1,750 1,750 1,100 1,100 1,100 1,100 1,100 1,100 1,100 2009 2010 2011 2012 2013 2014 tbd Paper PulpMucuri Unit and new pulp line: analysis of the global economy and pulp market outlook fordefinition of the implementation schedule and start up.1 The effective capacity will depend on the learning curves 43
  43. 43. Maranhão UnitNecessary planted area: 154 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 32% • Technology cooperation agreement 68% • Railroad transportation for the pulp output to the port region of São Luiz until 2043. • Start up in 2013 ensured with Vale’sVale Florestar Program and other local producers forestry assets (planted forest) – on aOwn Land competitive basis 2009 to 2015 2011 to 2014 Forestry Capex US$ 575 Million Industrial Capex US$ 2.3 Billion 44
  44. 44. Piauí Unit • Final agreement withNecessary planted area: 170 tsd ha Transnordestina in July 2009: Wood supply • Railroad transportation for the pulp output from Piauí to the (2015 onwards) port region of São Luiz until 2028 • Planting already started in MA Independent farmers licensed area 30% Own lands • Start up of Piauí unit scheduled for 70% 2014, ensured with 5.5 years old forest 2009 to 2015 2012 to 2015 Forestry Capex US$ 710 Million Industrial Capex US$ 2.3 Billion 45
  45. 45. Maranhão and Piauí unitsMaranhão Unit Piauí Unit 46
  46. 46. Key messages Leading player in the regional paper market and one of the top Leadership 10 market pulp producersCompetitiveness 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
  47. 47. Investor Relationswww.suzano.com.br/ri+55 (11) 3503-9061ri@suzano.com.br 48
  48. 48. 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, 82 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 ofCLÁUDIO 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, 64 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, 64 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 AviaçãoMARCO BOLOGNA, 55 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
  49. 49. Distinguished management team Chief Executive Officer, also responsible for Investor Relations Department, 4 years at Suzano. Member of the Board of ANTONIO MACIEL Director Member of Marfrig Frigoríficos. Vice President of BRACELPA. Former member of the Board of Director of SEBRAE, NETO, 52 Gradiente, Cecrisa and Amcham. Former Chaiman of Ford Brasil 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 and Strategy Departments, 15 years at Suzano. He has worked at Vale BERNARDO for 23 years as Director, Executive Vice-President and member of the Board of Directors. PhD in Business Administration SZPIGEL, 65 graduated at University of California, Berkeley. Mechanical Engineer graduated at ITA. Chief Executive Officer of Suzano Renewable Energy and Suzano Pulp and Paper Executive Officer, responsible for Corporate Development Department, 7 years at Suzano. Former Paper Business Unit Executive Officer (2005-2008). Former ANDRÉ DORF, 37 Executive of JPMorgan in Brazil and NY (Investment Banking Global and Latin America), 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, 43 Forest Business Unit Executive Officer, 3 years at Suzano. Former executive of Champion Pulp and Paper and InternationalJOÃO 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. ElectricalCARLOS 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 andCARLOS GRINER, 46 Latin America. Former Executive of Carioca Engenharia, CR Almeida, Comlurb and Bureau Veritas. Post Graduated in Business Administration at COPPEAD-UFRJ. 50

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