Suzano S A : 2023 - Sustainability Report

Message from the Chairman of the Board of Directors

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THETEAM 01.FROMMESSAGESLEADERSHIP

In 2024, Suzano is celebrating its first centennial, a milestone that leads us to look at our trajectory with great

pride and inspires us to continue planting an increasingly better future.

After 100 years of challenges, lessons learned and achievements, today, we are recognized as the world's largest pulp producer and a benchmark for the manufacture of bioproducts made from eucalyptus, a renewable raw material that we grow in a sustainable way.

Our centennial is not only a time for us to reflect on the importance of everything we have accomplished, but also an opportunity to think about the future and how our legacy will help determine our next steps.

In a dual-focus manner, we both work in the present and look to the future as we pursue innovative and sustainable solutions to renew life. We got to where we are today thanks to different factors, such as financial discipline, expansion into new markets, recurring investments to improve our competitiveness, and our obsession with generating and sharing value with all our stakeholders.

The year 2023 was another important part of our history. It was a time of collective effort and dedication from our more than 49,000 employees and contractors. We took important steps toward the future, such as advancing

the Cerrado Project. With operations scheduled to start in the first half of 2024, our plant in Ribas do Rio Pardo, in the state of Mato Grosso do Sul, will be the most modern and competitive in Suzano's history.

And what do we want in the coming years? We want to be agents in support of the bioeconomy and to be increasingly present in people's lives with products from renewable sources that are viable alternatives to meet the needs of a society faced with a climate emergency. We also want to lead by example as we inspire more people and companies to adopt best practices for society and the planet. We want to be part of the solution.

To do so, we must have humility and resilience to fully understand the challenges of the present and prepare ourselves for what is to come. We must work together, recognizing that the global sustainability agenda requires collaboration and not competition- collaboration among different parties through the engagement of different partners, including customers, suppliers, international organizations, public institutions and civil society. And we must have robust and up-to-date governance, which is the basis for developing strategies that will take us more safely into the future we need and desire. We must never forget to appreciate and thank those who make all this happen: our people! Diverse

people, who have unique characteristics, different cultures, genders, races, ethnicities, points of view, ways

of being and living.

Recognizing that this diversity is essential for creating the present and future we want, we have worked within our company to evolve toward our diversity, equity and inclusion goals, in addition to encouraging our value chain to do the same. We believe that our differences and the plurality of our views strengthen us to fulfill our purpose of "Renewing life inspired by trees", setting more sustainable paths for the regeneration of our planet.

I also want to acknowledge that as important as "what" we do is "how" we work to fulfill our purpose, which translates into our "strong-and-gentle" dual nature-strong regarding our results and commitments, and gentle regarding our relationships with people and nature.

Among many lessons learned, our first 100 years have highlighted our resilience, demonstrating our ability to combine innovation with sustainability to deliver better and more sustainable solutions for society and the planet, and proving that we have the expertise and determination to plant a better future. Here's to our next 100 years!!

David Feffer

Chairman, Board of Directors, Suzano

Message from our CEO

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THETEAM 01.FROMMESSAGESLEADERSHIP

In 2023, we faced a challenging pulp market as a result of price volatility and lower volumes. Conversely,

we also executed a record investment of R$18.2 billion in our growth and modernization projects, adding up to

R$51.2 billion since 2019, when we carried out the merger that created Suzano S.A. And this has only been possible thanks to a strong balance between our financial discipline and capital allocation focused on the company's strategy, which has gradually led us to generate and share value with our stakeholders.

At Suzano, we like to say that we are like a startup that is 100 years old-a milestone we celebrated in January 2024-and we are continuously planting the future. We have solid experience and presence in our sector, and our innovative spirit guides us toward the changes that will take place in the coming decades.

It is clear to us that we must not hold ourselves back in our pursuit of new business models, productivity and efficiency. We also must have an impact on society. The combination of innovation with sustainability, two elements that make up our DNA, enables us to develop biosolutions for a society that is undergoing a transformation.

Driven by our ambition of being a leader in sustainability, we have worked to make progress regarding our Commitments to Renewing Life, which unfold into actions that are in line with the Global Compact principles

and the UN Sustainable Development Goals (SDGs).

Stopping climate change is urgent. Society is accepting this reality, and we are convinced that we are part of the solution through our planted farms and our offering of renewable products to replace fossil-based ones.

Our commitments also include lifting people out of poverty, totaling 51,883 individuals between 2020 and 2023. This is a very important issue for us, a very sensitive topic for Brazil, and, therefore, a transformational necessity within the communities where we are present.

We made progress in the construction of the Cerrado Project, in Ribas do Rio Pardo, which remains on schedule to start operations in 2024. This will be our most competitive pulp plant and our most advanced site from a social and environmental perspective, enabling us to maintain our relevance in pulp. And to be best-in-class in terms of cost, we accelerated our efforts at an average rate of 1.2 million eucalyptus seedlings planted per day.

We were also successful in making progress across our value chain with the completion of the purchase of Kimberly-Clark's tissue business in Brazil. We incorporated the Neve® brand and announced the construction of a new tissue plant in Aracruz.

We are poised to take a leap forward in the supply of our Eucafluff®, with a new line in Limeira, and advance initiatives to replace fossil- based materials with products

made from renewable eucalyptus fiber. One example is Woodspin, in Finland, our first industrial operation outside Brazil, which can produce recyclable and biodegradable fabric using microfibrillated cellulose (MFC) as raw material.

Our competitiveness sets us apart and is our greatest asset in preparing us for the future and in maintaining our ability to offer sustainable solutions to meet global needs. We continue to grow, and to generate and share value, in a virtuous cycle that has transformed our company over our 100 years.

On July 1, 2024, after 11 years as CEO, I will be stepping down and, after deliberation at the Annual General Meeting, I will become part of the company's Board of Directors and support committees.

With the completion of the Cerrado Project, Suzano will enter a new phase, to which

I believe I have more to contribute from a different position. Starting in April, we will begin a transition phase for João Alberto Fernandez de Abreu to assume the position of CEO. I wish him much success.

I'm confident on our ongoing evolution, and we will continue together on our journey, with an entrepreneurial spirit, improving the company every day to have an even more positive social, environmental and economic impact and relevance in our industry and society.

Walter Schalka

Chief Executive Officer, Suzano

ARE

IN 2023, OUR OPERATIONS INCLUDED:

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WE

WHO

We are Suzano, the largest eucalyptus pulp manufacturer in the world, one of the largest paper producers in Latin America, the leader in the toilet paper market in Brazil and a benchmark in bioproducts through the development of sustainable and innovative solutions from renewable sources.

12

plants in Brazil, and one under construction, expected to start operations by June 2024

30

distribution centers

1

plant in joint operation with Stora Enso,

in Brazil (Veracel) 1

1This report does not include information about the plant in joint operation with Stora Enso (Veracel, Brazil).

7

technology centers:

4 in Brazil,

1 in Canada,

1 in China and

1 in Israel

1

1 plant in joint venture with Spinnova,

in Finland (Woodspin)

2

administrative offices located in São Paulo and Salvador

5

ports in Brazil

10

international offices in Argentina, Austria, Canada, China, Ecuador, Finland, Israel, the Netherlands, Singapore and

the United States

Guided by our purpose of "Renewing life inspired by trees", we impact the everyday lives of more than

2 billion people, with exports to more than 100 countries.

2023 Sustainability Report

TRÊS LAGOAS (BRAZIL)

Belém

Port of Itaqui

OUR OPERATIONS and Certifications

1FSC® Chain of Custody license codes:

Traders: FSC-C012430

Plants: FSC-C010014

Três Lagoas

Limeira

Rio

Verde

Imperatriz

Jacareí

Mogi das Cruzes

Suzano

Port of Santos

São Paulo

Maracanaú

Salvador

Belmonte

Maritime

Terminal

Veracel

Mucuri

Caravelas

Maritime

Terminal

Aracruz

Cachoeiro

de Itapemirim

Portocel

Stenfar and Distributors: FSC-C003231

2PEFC Chain of Custody license codes:

Stenfar and Distributors:

PEFC/28-32-61

Traders: PEFC/28-32-62

Plants: PEFC/28-32-63

Click on the icons for more information

FORESTRY BASE

PLANTS

OFFICES PORTS

OUR

BUSINESS

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We are organized into the following business units:

PULP

10.9

million tonnes/year*

PAPER AND

OTHER PRODUCTS

1.5

million tonnes/year*

*Installed production capacity

OUR

PRODUCTS

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Suzano Biopulp® is a renewable raw material used in various products, including paper for printing and writing, packaging, tissue (toilet paper, paper towel and facial tissues) and other biopossibilities.

Our eucalyptus fluff, Eucafluff®, is made from pulp and used as a raw material in hygiene products such as diapers, pads and pet mats.

We develop and produce paper for different uses, such as printing, writing and making books, packaging, bags, straws and paper cups, among other applications. We also have paperboard used

in pharmaceutical, cosmetic and food packaging.

In the Consumer Goods segment, we offer hygiene and cleaning products, including toilet paper, paper towel, paper napkins, diapers, wet wipes, reusable cloths and facial tissues.

As part of our new businesses, lignin is a renewable alternative to replace fossil materials in products such as wood panels, rubber items, heat-resistant plastics, adhesives, agricultural dispersants and even makeup.

Known as MFC, microfibrillated cellulose can be used in various applications, including the production of more sustainable fabrics, such as the SPINNOVA® textile fiber. The manufacturing process of this biodegradable and recyclable raw material does not use chemicals that are harmful to the environment and consumes 99% less water compared with other fibers. MFC can also be used in the production of fiber cement and cosmetics (such

as shampoos, conditioners, moisturizers and sunscreens).

Bio-oil, made from eucalyptus biomass, is an alternative

to partially replacing fossil products, such as fuels and chemical compounds, helping lower carbon emissions.

2023 Sustainability Report

About Suzano 8

Pulp is the basis of our business. In 2023, it accounted for 77% of our net revenue, with 93% of our total pulp sales being to international markets. Our other business segments accounted for 23% of our net revenue, which totaled R$39.8 billion in the year. Our pulp sales totaled 10.2 million tonnes, a 3.6% decrease compared to 2022.

In 2023, we faced a challenging pulp market, affected by a drop in price, especially in the first half of the year. Conversely, we experienced a drop in cash costs throughout the year, primarily as a result of lower input consumption and prices. Regarding pulp supply, key international markets benefited from increased availability of short fiber resulting from new entrants in the sector.

Acquisition of KC's Tissue Business

and Neve® Brand

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In 2023, we purchased Kimberly-Clark's tissue business in Brazil, an important move to strengthen our Consumer Goods unit. The acquisition included a plant located in Mogi das Cruzes, with an installed capacity of approximately 130,000 tonnes per year, which increased our production capacity of toilet paper, reusable cloths, napkins and facial tissues. The addition of the Neve® and Grand Hotel® brands to our brand portfolio makes us the Brazilian market leader in the toilet paper segment, bringing us closer to end consumers. Other global brands sold by Kimberly-Clark in Brazil, such as Kleenex® and Scott®, as well as the K-C Professional line, were licensed

to be used by Suzano for a fixed term.

Progress in Paper and Packaging

Our products in the Paper and Packaging segment continued to serve a diverse base of customers, including printers, publishers, converters and distributors, for the production of promotional and non-promotional materials, notebooks, high-quality packaging and art books, among other items. The publishing and graphic market is the largest consumer of uncoated paper, for the production of both textbooks and other books. In 2023, in this segment, we continued to advance our sales of Pólen® Natural, a uniquely-treated paper that is more natural and purer,

as a result of being produced in fewer industrial steps using fewer chemical additives. By reflecting less light, Pólen® Natural also makes reading more comfortable.

In the Printing and Writing segment, we also maintained our presence in the cut size market, with our extensive portfolio of different formats, colors and weights, with an emphasis on the premium Report® brand. And in the coated market, we maintained our position as the only producer of C2S couché paper in Brazil.

In the paperboard segment, our emphasis is on packaging (cartridges, belts, envelopes and others), primarily aimed at the pharmaceutical, cosmetics and food sectors.

In recent years, we have developed special types of paper to serve new markets, including paper from the Bluecup® family for the production of cups and food delivery packaging; the Loop® family, to make straws; Greenpack Suzano® paper, to produce flexible packaging; Greenbag® paper, to make bags; and LIN Suzano® paper, for the production of shipping boxes, totaling 52,000 tonnes of products sold in 2023.

R$39.8 BILLION

total net revenue

Internationalization Through Woodspin

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In 2023, we started our first industrial operation outside Brazil, with the inauguration of Woodspin, a pioneer in the manufacture of textile fiber made from mechanically processed microfibrillated cellulose. The company is

a 50:50 joint venture between Suzano and Spinnova, a Finnish company that pioneered technology for the production of sustainable textile fibers. The Woodspin demonstration site has the capacity to produce 1,000 tonnes per year. The goal is to improve the technology

and optimize manufacturing costs to enable production at a commercial scale.