FIBRIA CELULOSE S FIBRIA CELULOSE S.A. CNPJ/MF n.º 60.643.228/0001-21 NIRE 35.300.022.807 (a publicly held company) MINUTES OF THE EXTRAORDINARY BOARD OF DIRECTORS MEETING HELD ON MAY 4, 2015

Date, Time and Place: Held on May 4, 2015, at 5:00PM, by teleconference, centered at Fidêncio Ramos Street, no 302, 3rd floor, Tower B, Vila Olímpia Building, Vila Olímpia, City of São Paulo, State of São Paulo.

Call notice: The Board of Directors members were dully called pursuant the item 6 of its Rules of Procedures.

Attendance: The totality of the members of the Board of Directors were present: José Luciano Duarte Penido (Chairman of the Board); Alexandre Gonçalves Silva, Carlos Augusto Lira Aguiar, Eduardo Rath Fingerl, João Carvalho de Miranda, João Henrique Batista de Souza Schmidt, Julio Cesar Maciel Ramundo, Marcos Barbosa Pinto and Raul Calfat.

Presiding: José Luciano Duarte Penido - Chairman of the Board of Directors.

Claudia Elisete Rockenbach Leal - Secretary

Agenda: In accordance with the Article 17 of the Company's Bylaws, to approve the signing of an agreement for the supply of eucalyptus pulp (hardwood) to be entered into with Klabin S.A.

Resolutions: After discussion and analysis of the matter included on the Agenda, the following resolution were passed without reservations and/or qualifications, by the unanimous vote of the Directors in order to:

To approvethe signing, by Fibria International Trade GMBH, company controlled by the Companhia, of an agreement for the supply of eucalyptus pulp (hardwood) that


will be produced at the Klabin S.A. plant (Puma Project) located in Ortigueira, Paraná.
The agreement term will be six (6) years and the beginning of the supply is expected to 2016.

Closing: There being nothing else to address, the meeting was closed and these minutes were transcribed, read, found to be accurate, approved and signed by all the members of the Board. Attendance: José Luciano Duarte Penido (Chairman of the Board of Directos); Alexandre Gonçalves Silva, Carlos Augusto Lira Aguiar, Eduardo Rath Fingerl, João Carvalho de Miranda, João Henrique Batista de Souza Schmidt, Julio Cesar Maciel Ramundo, Marcos Barbosa Pinto and Raul Calfat; and Claudia Elisete Rockenbach Leal - Secretary.

São Paulo, May 4, 2015
We certify that the present instrument is a true copy of the Minutes of the
Extraordinary Board of Directors Meeting held on May 4, 2015, recorded in the appropriate book.

José Luciano Duarte Penido Claudia Elisete Rockenbach Leal

Chairman Secretary

distributed by