Suzano Papel e Celulose : 3Q16 Earnings Presentation

3Q16 Results

Disclaimer

The statements in this presentation constitute projections or forward-looking statements. Such statements are subject to known and unknown risks and uncertainties that could cause the expectations expressed to not materialize or the actual results to differ materially from the expected results. These risks include changes in future demand for the Company's products, changes in factors that affect domestic and international product prices, changes in cost structures, changes in the seasonality of markets, pricing actions by competitors, foreign currency fluctuations and changes in the political and economic environments in Brazil, in emerging markets or internationally.

2

I N D I C A T O R U S E D T O

M A N A G E

W H I C H M A I N D R I V E R I S

Operating Cash Generation¹ LTM²

(R$ billion)

3.5 3.7 3.8 3.1

Dec/14 Dec/15 Mar/16 Jun/16 Sep/16

Adjusted EBITDA LTM²

(R$ billion)

4.6 4.9 4.9 4.2

2.5

Dec/14 Dec/15 Mar/16 Jun/16 Sep/16

¹ Adjusted EBITDA - Sustaining Capex

² Last twelve months

3 Q 1 6 R E S U L T S

Lower Pulp Production

External Factors

FXPulp

Price

Lower

pulp sales volume

Scheduled maintenance downtimes (Mucuri and Suzano)

Slower Production Pace (Imperatriz)

_ Inadequate return (pulp price)

_ Operational issue

Delay in Shipment

Volumes booked in 4Q16