Suzano S.A.

BOVESPA-SUZB3

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Operating Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Net Income	6,584.9	-7,044.7	14,106.4	23,394.9	8,635.5	-10,714.9	-2,814.7	319.8	1,821	1,677.8	-929.7
Net Income for the Period
Depreciation & Amortization	11,036.2	9,224	7,321.1	7,438.1	7,082.8	6,752.2	8,053	1,563.2	1,402.8	1,403.5	1,419.5
Depreciation, Amortization and Depletion
Depreciation, Depletion and Amortization
Depreciation, Depletion and Amortization
Depreciation of Right of Use
Share-Based Compensation Expense	—	—	—	—	—	—	—	—	—	2.8	32.2
Share-Based Payment Expenses
Other Adjustments	6,855.4	22,996.4	-1,432	-2,185.1	7,633.5	18,635.3	5,239.6	4,630.8	1,099.3	916.4	4,375.8
Sublease of Ships
Interest Expense on Lease Liabilities
Results from Sale, Disposals and Provision for Losses (Impairment) of Property, Plant and Equipment and Biological Assets, Net
Result from Sale and Disposal of Property, Plant and Equipment and Biological Assets, Net
Gain on Sale of Investments
Gain on Exchange of Assets, Net of Deferred Tax
Result from Sale and Disposal of Property, Plant and Equipment, Intangible and Biological Assets, Net
Income from Associates and Joint Ventures
Interest Attributable to Capital and Dividends Received
Exchange Rate and Monetary Variations, Net
Exchange Rate and Monetary Variations, Net
Interest Expenses on Financing, Loans and Debentures
Interest Expenses on Financing, Loans and Debentures
Premium Expenses on Early Settlements
Capitalized Loan Costs
Accrual of Interest on Marketable Securities
Amortization of Transaction Costs, Premium and Discounts
Derivative Gains, Net
Derivative Gains, Net
Investment Gains Reversal
Fair Value Adjustment of Biological Assets
Fair Value Adjustment of Biological Assets
Deferred Income Tax and Social Contribution
Deferred Income Tax and Social Contribution
Interest on Actuarial Liabilities
Provision for Judicial Liabilities, Net
Provision for Judicial Liabilities, Net
Profit from Divestment
Other Provisions
Other Provisions
Provision for Doubtful Accounts, Net
Provision for Doubtful Accounts, Net
Provision for Inventory Losses
Gain Over Actuarial Liability Reduction
Change in Provision for Discounts - Loyalty Program
Change in Provision for Discounts - Loyalty Program
Provision for Inventory Losses, Net
Gain Over Acquisition of Conpacel/KSR
Gain Over Actuarial Liability Reduction
Write-Off of Tax Credits
Provision for Losses and Write-Off with Property, Plant and Equipment and Biological Assets
Partial Write-Off of Intangible Assets
Provision for Loss of ICMS Credits, Net
Other Provisions
Adjustment to Reconcile Net Income to Cash Flow from Operating Activities
Adjustment to Reconcile Net Income to Cash Flow from Operating Activities
Impairment of Non-Financial Assets
Impairment of Non-Financial Assets
Addition to Other Provisions
Addition to Other Provisions
Gain in Fixed Assets Disposal
Tax Credits
Other
Capitalized Loan Costs Paid
Interest Received on Marketable Securities
Changes in Trade Receivables	—	-808.8	2,155.4	-3,267.4	-3,393.8	884.5	991.5	-186	-726.8	212.9	-781.5
Change in Accounts Receivable
Change in Accounts Receivable
Change in Accounts Receivable
Change in Trade Accounts Receivable
Trade Accounts Receivable
Changes in Inventories	-557.5	-863.6	-48.7	-968	-654.8	651.2	873.4	-622.2	115.5	-47.8	-312.4
Change in Inventories
Change in Inventories
Change in Inventories
Changes in Accounts Payable	—	2,164.8	463	1,533.1	1,363.5	140.5	-1,555.7	1.5	63.2	-4.7	92.2
Change in Trade Accounts Payable
Trade Accounts Payable
Changes in Accrued Expenses	73.8	364.8	73.1	83.7	97.8	92.3	-234.9	-100.1	-135.1	—	—
Change in Payroll and Charges
Changes in Income Taxes Payable	154.7	296.2	329.6	422.6	271.7	47.2	240.9	432.6	265.7	—	—
Taxes Payable
Changes in Other Operating Activities	-253.3	-116.9	-615.4	-485.8	-78.7	448	153.2	263.9	289.7	681	404.2
Change in Recoverable Taxes
Recoverable Taxes
Change in Other Current and Non-Current Assets
Settlement of Derivative Operations
Change in Other Assets
Change in Other Assets
Change in Other Current and Non-Current Liabilities
Change in Other Current and Non-Current Liabilities
Change in Other Current and Non-Current Liabilities
Change in Other Liabilities
Change in Other Liabilities
Changes in Assets and Liabilities
Changes in Assets and Liabilities
Cash from Operating Activities	23,894.3	20,604.4	17,315.5	21,640.6	17,637.5	13,124.6	7,576.4	5,169.4	3,067.3	3,075.5	2,674.8
Cash Provided by Operating Activities

Investing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Capital Expenditure	-13,543.5	-16,371	-17,452.1	-14,748.6	-5,958.2	-4,895.6	-4,850.7	-2,416.5	-1,772.2	-2,312.7	-1,652.2
Additions to Property, Plant and Equipment
Additions to Property, Plant and Equipment
Acquisition of Property, Plant and Equipment
Additions to Biological Assets
Additions to Biological Assets
Proceeds from Sale of Property, Plant & Equipment	169.3	168	183.6	251.2	1,411.3	183.5	198.6	95.5	84.7	35.2	41.9
Proceeds from the Sale of Assets
Proceeds from the Sale of Assets
Advances Received from Sale of Assets
Proceeds from Sales of Property, Plant and Equipment and Biological Assets
Receivables from Sale of Assets
Purchases of Intangible Assets	-78.9	-162	-104.9	-90.5	-285.3	-2.3	-17.7	-7.2	-8.1	-11.6	-12.7
Additions to Intangible
Purchases of Investments	—	—	—	—	—	—	—	—	—	—	—
Additions to Investments
Payments for Business Acquisitions	—	-2,576.9	-2,670.9	-2,079.5	-6.5	—	-26,002.5	-294.5	—	—	—
Asset Acquisition
Acquisition of Subsidiaries
Acquisitions of Non-Controlling Interests
Net Cash from Acquisition of Subsidiaries
Proceeds from Business Divestments	—	—	—	—	—	—	—	—	—	—	—
Proceeds from Sale of an Interest in an Affiliate
Other Investing Activities	3,315.6	-1,570.8	-5,991	-348.4	-5,520	3,977.9	18,977.3	-19,338.9	687.8	-1,053.4	-934.2
Capital Increase in Affiliates
Marketable Securities, Net
Proceeds from Sale and Maturities
Trading Securities, Net
Dividends Received
Advances for Receipt of Wood from Operations with Development and Partnerships
Acquisition of Other Investments
Cash and Cash Equivalents Received on Exchange of Assets
Cash from Investing Activities	-10,590.2	-20,512.7	-26,035.3	-17,015.8	-10,358.7	-736.4	-11,695	-21,961.3	-1,007.8	-3,342.5	-2,557.2
Cash Provided by Investing Activities

Financing Activities	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Issuance of Long-Term Debt	25,904.3	15,692.9	10,944.8	1,335.7	16,992	14,761.8	18,993.8	25,645.8	2,562	5,665.6	4,107.8
Proceeds from Loans, Financing and Debentures
Subscription of Debentures
Borrowings
Borrowings
Repayments of Long-Term Debt	-19,879.5	-9,410.8	-4,296.4	-2,517.9	-15,469.4	-19,092.8	-13,994.7	-3,738.6	-4,533.7	-4,853	-6,124
Payment of Loans, Financing and Debentures
Payment of Loans, Financing and Debentures
Repayments
Repayments
Net Issuance / (Repayments) of Long-Term Debt	6,024.8	6,282.1	6,648.3	-1,182.2	1,522.5	-4,331	4,999.1	21,907.2	-1,971.8	812.6	-2,016.2
Issuance of Common Shares	—	—	—	—	—	—	-0.9	8.5	—	8.5	8.5
Capital Increase Through Share Issue
Sale of Treasury Shares to Meet Stock-Based Compensation Plan
Repurchases of Common Shares	-191.9	-2,806.8	-880.9	-1,904.4	—	—	—	—	-0.1	—	—
Shares Repurchased
Net Issuance / (Repurchases) of Common Shares	-191.9	-2,806.8	-880.9	-1,904.4	—	—	-0.9	8.5	-0.1	8.5	8.5
Common Share Dividends Paid	-2,514.5	-1,624.7	-192.5	-4,150.8	-9.7	—	-606.6	-210.2	-570.6	-299.9	-269.9
Payment of Interest on Own Capital and Dividends
Other Financing Activities	-1,266.6	-1,934.4	2,224	-869.8	-3,086.7	-5,454.1	-1,249.8	-1,670.5	-78.2	44.9	-324.2
Proceeds Generated by Derivatives, Net
Proceeds Generated by Derivatives, Net
Payment of Derivative Transactions
Proceeds of Derivative Transactions
Payment of Leases
Liabilities for Assets Acquisitions and Subsidiaries
Other Financing
Cash from Financing Activities	2,031.1	-83.8	7,798.9	-8,107.2	-1,573.9	-9,785.1	3,141.8	20,035	-2,612.1	566.1	-2,601.8
Cash Provided by Financing Activities

Free Cash Flow	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18	Dec '17	Dec '16	Dec '15
Free Cash Flow	10,350.7	4,233.4	-136.7	6,892	11,679.3	8,229.1	2,725.7	2,753	1,295.1	762.8	1,022.6
NOPAT	11,351.1	26,219.8	14,320.6	25,510.1	17,384.1	11,932.8	3,767.1	-35,214.3	3,328.1	1,874.8	7,221.4
Levered Free Cash Flow	13,401.3	-6,064.4	10,825.3	15,487.8	12,282.2	-11,810.1	4,863.5	21,349.5	78.8	2,209.7	-2,994.6
Unlevered Free Cash Flow	8,261.6	20,918	4,391.1	18,785.2	19,508.2	15,168.7	6,446.2	-36,091.9	3,557.7	1,594.1	7,172.8
Net Change in Cash	15,335.2	7.9	-921	-3,482.3	5,704.9	2,603.1	-976.8	3,243.2	-552.6	299.1	-2,484.3