Suzano S A : 2023 - Sustainability Report - Executive Summary

2023 SUSTAINABILITY REPORT

EXECUTIVE SUMMARY

TABLE OF CONTENTS
Messages from the Leadership Team	3
Who We Are	5
Competitiveness with the Cerrado Project	12
Innovation for the Bioeconomy	13
Suzano and Sustainability	15
Commitments to Renewing Life	22
Standards	24

INTRODUCTION

This Report presents our financial, social, environmental and corporate governance highlights for the period between January 1 and December 31, 2023.

The information reported pertains to Suzano S.A., including data from the company's national and international operations and offices, FuturaGene and Instituto Ecofuturo.

More detailed information can be found in our 2023 Sustainability Report, which was developed according to the Global Reporting Initiative (GRI) Standards 2021. In our Sustainability Center, there is also a comprehensive set of indicators in line with the Sustainability Accounting Standards Board (SASB) for the Pulp and Paper Products, Forestry Management and Containers and Packaging industries, and the World Economic Forum (WEF) Stakeholder Capitalism Metrics, as well as the Task Force on Climate-Related Financial Disclosures (TCFD) and the UN Sustainable Development Goals (SDGs).

Questions, suggestions and requests for additional information can be directed to [e-mail].

This is an interactive report.

To return to the Main Menu, click on the icons located on the upper right corner of each page.

Suzano Sustainability Report 2023

2

Message from the Chairman of the Board of Directors

THE LEADERSHIP TEAM

MESSAGES FROM

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

Suzano Sustainability Report 2023

3

Message from our CEO

THE LEADERSHIP TEAM

MESSAGES FROM

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

Suzano Sustainability Report 2023

4

ARE

IN 2023, OUR OPERATIONS INCLUDED:

GRI 2-1,2-6

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

1 This 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.

Suzano Sustainability Report 2023

2.7million	1.6million	1.1million
hectares on land dedicated	hectares set aside
hectares of land, of which:	to production2	for conservation

2 Other reports consider different parameter to separate farm areas and areas available for use, in addition to including 50% of Veracel's areas (joint venture with Stora Enso),
such as financial statements, which only consider productive areas (biological asset) with the additional area corresponding to Veracel.	5

OUR MAIN BRANDS

Suzano Sustainability Report 2023

PULP

Pulp: Suzano®, Suzano Biopulp®

Fluff pulp: Eucafluff®

PAPER AND PACKAGING

Printing and writing: Report® (Premium, Reciclato, Colorido, Senninha) and Magnum®

Uncoated paper: Pólen® (Bold and Soft), Pólen® Natural, Alta Alvura® (Laser and Alkaline), Reciclato®, Paperfect Laser®, Paperfect® Offset and Prisma Bright® (Laser and Offset, for the Brazilian market)

Coated paper: Couché Suzano Design Matte®, Couché Suzano Design Gloss®, Couché Suzano® Press Matte, Couché Suzano® Press Gloss, Couché Suzano Fit Silk®, Couché Suzano Fit Gloss®

Paperboard: Super 6 Plus®, TP White Pharma Plus®, TP White Plus®, Supremo Duo Design, Supremo Alta Alvura®

Specialty paper: Loop+® and Loop® (paper for straws), Bluecup Bio® and Bluecup® (paper for cups), Greenbag®, Greenpack Suzano® and LIN Suzano®

N a t u r a l

CONSUMER GOODS

Toilet paper: Neve®, Mimmo®, La Vie Blanc®, MaxPure®, Floral®

Tissue paper: Kleenex®1

Wet wipes: Mimmo®, Neve®

Napkins: Scott Grand Hotel®1, Scott Dia a Dia®1, Scala®

Paper towel: Scala®

Reusable paper cloths: Scott Duramax®1

Disposable infant diapers: MaXX Baby®

Professional Line: Kimberly-Clark Professional®1, Kleenex®1,

Scott Essential®1, Scott®1, Scott Basic®1, Neve® and WypAll®1

1Trademark under license from Kimberly-Clark Worldwide, Inc. or its affiliates. ©KCWW

NEW BUSINESSES

Ecolig®: Chemical base made from lignin used in high-performance industrial applications. An alternative to replace fossil-based materials that combines high performance with antioxidant potential, ultraviolet radiation (UV) absorption and binding properties.

Woodspin: A joint venture with the Finnish company Spinnova to produce the SPINNOVA® fiber, from microfibrillated cellulose.

6

At the end of 2023, we started a new materiality assessment to identify the perspectives of our different stakeholders regarding the aspects they consider the most relevant and that have the potential to impact the economy, environment and society in the present and the future. The results of this process, which will be concluded in 2024, will guide our efforts from then on. Therefore, this Report still considers the topics identified as material in 2021.

Our materiality assessment was based on the guidelines of the Global Reporting Initiative

Innovability	Climate change

Supplier

management

Biodiversity

MATERIAL

(GRI) and the International Integrated Reporting Council and incorporated impact assessment and double materiality concepts, considering both the financial, and the social and environmental impacts of our operations.

The Suzano Sustainability Centerand the 2023 Sustainability Reportprovide additional details on the materiality assessment and the scope of each of the topics.

Diversity,

equity and inclusion

Click on

the icons

for more

information

Land development

OUR TOPICS

BOUNDARIES AND RELEVANCE OF THE TOPIC IN THE VALUE CHAIN

_Forests	_Transportation and logistics
_Industry	_Sales and customers
_Supply of wood and	_Retail and end consumers
other inputs
Topic of high relevance	Topic of relevance	Topic of little to no relevance

Human rights

Water

Suzano Sustainability Report 2023

7

ETHICS

OUR BOARD OF

DIRECTORS

9

members

33%	56%
women	independent
directors

SUSTAINABILITY MANAGEMENT

Accountability for sustainability matters rests with our highest governing body. We have a Sustainability Committee that advises our Board of Directors on risks and opportunities associated with social and environmental issues that may have a significant impact on the business. It is made up of Board members and external experts, who are responsible for analyzing and making recommendations

on long-term objectives, while monitoring our performance and the quality of our relationships with different stakeholders regarding our commitments.

To guide our actions and establish compliance frameworks, we rely on several documents: Code of Ethics and Conduct,Anti-corruptionPolicy,Disciplinary Measures Policyand Anti-trustPolicy,in addition to internal regulations related to the activities of the Ombudsman Channel and the Conduct Committee. We have a Compliance Program structured in three axes (prevention, detection and response) and carry out communication and awareness campaigns to reinforce our culture of ethics and compliance.

GOVERNANCE, COMPLIANCE AND

Our governance model is guided by transparency, ethics and equity in our relationships with different stakeholders. We are a publicly-held company, with shares traded on stock exchanges in Brazil and the United States. Our main governance body

is our Board of Directors, which is responsible for defining our strategy, purpose and values, and providing general business guidance.

7.8 years

1 risk expert

average tenure

on the Board

The Investor Relationssection on our website details the composition of our governance bodies and their respective functions. Information about the process of compensation and performance review of the Board of Directors, and other indicators, is available on the Sustainability Center.

87%	100%
of employees	of contractors

completed training on our Code of

Ethics and Conduct in 2023.

RISK MANAGEMENT

We have an Integrated Risk Management Policythat guides us in identifying, analyzing, prioritizing, addressing, monitoring and reporting the main risks associated with our business, including ESG risks. The Enterprise Risk Management (ERM) process is carried out in line with the corporate strategy and involves business areas, Risk Management, Compliance and Internal Controls. It includes workshops and interviews with key executives to identify our main risks, including climate-related ones. These are then consolidated in a matrix, and the priority risks

are presented to the Board of Directors and the Executive Leadership Team on a quarterly basis.

ETHICS AND COMPLIANCE

Ethics, integrity and the rule of law are the foundation of our decisions and guide our business model and relationships with customers, shareholders, employees, suppliers, service providers, the market and public entities.

CEO SUCCESSION

After more than 11 years at the head of Suzano, contributing to a growth cycle that has made us global leaders in our industry, Walter Schalka will be stepping down as CEO as of July 1, 2024. He will be appointed to join the Board of Directors of Suzano and become part of its advisory committees.

He will be succeeded by João Alberto Abreu, who will go through an onboarding and transition process assisted by Schalka, starting on April 2. Abreu, who has worked at Shell, Raízen and Rumo, where he was CEO, is committed to starting a new cycle of capital allocation, strengthening the organizational culture, advancing a positive social and environmental agenda, and continuing to create and share value with all stakeholders.

Suzano Sustainability Report 2023

8

IN 2023	FINANCIAL CAPITAL
SUZANO

	CAPITAL
R$39.8 billion	MANUFACTURED	R$18.2
net revenue		billion
R$18.3 billion		in investments
	(Capex)
adjusted EBITDA		10.9
R$11.6 billion
	million
operating cash flow		tonnes installed
		pulp capacity
40%		1.5 million
of debt linked
to sustainability		tonnes installed
commitments		capacity for paper
		and other products
R$29.7 billion
added value

1 Other reports consider different parameter to separate farm areas and areas available for use, in addition to including 50% of Veracel's areas (joint venture with Stora Enso), such as financial statements, which only consider productive areas (biological asset) with the additional area corresponding to Veracel.

NATURAL CAPITAL

2.7 million

hectares of land, of which:

1.6 million

hectares dedicated to production 1

1.1 million

hectares dedicated to conservation

92,800

hectares of high conservation value areas (HCVAs)

-27 million tCO2

of carbon removals from the atmosphere since 2020

88%

of energy from renewable sources

HUMAN CAPITAL

20,627

company employees

28,705

contractors

24.9%

of leadership positions occupied by women

20.4%

of leadership positions occupied by Black employees

1million+

hours dedicated to training and development

INTELLECTUAL CAPITAL

R$220

million

invested in research and innovation

81

R&D projects

789

patents registered and

73 protected cultivars

SOCIAL AND RELATIONSHIP CAPITAL

347,091

people benefited from social development programs

51,000+

people lifted out of poverty between 2020 and 2023

136,678

people impacted by the Suzano Education Program

BUSINESS PERFORMANCE	Pulp	93%	Our other business segments
In 2023, our pulp sales totaled 10.2 million tonnes,	accounted for	accounted for
a 3.6% decrease compared to 2022, as a result of a	77%	of our pulp	23%
challenging environment, affected by a drop in price	sales were to
and unfavorable exchange rates, especially in the	of our net	international	of our net revenue, which totaled
first half of the year.	revenue	markets	R$39.8 billion
Suzano Sustainability Report 2023			9

ESG

EDIE NET ZERO AWARDS	SUSTAINABILITY LEADER

INNOVATIONBUSINESS LEADERSHIP

2023 VALOR INNOVATION	PERSON OF THE YEAR

1st place in the Manufacturer of the Year category. The awards recognize the individuals

and organizations that are spearheading the transition toward a net-zero carbon economy.

2nd place in the ranking of sustainability leaders in Latin America, according to the GlobeScan/SustainAbility Survey: 2023 Sustainability Leaders.

1st place in the overall ranking of the most innovative companies in Brazil and the most innovative company in the Pulp and Paper sector.

The non-profit organization Brazilian- American Chamber of Commerce named Walter Schalka Person of the Year.

DUAL CARBON INNOVATOR

MERCO ESG

CNI NATIONAL INNOVATION AWARD

ÉPOCA 360º YEARBOOK

Recognition for our innovative strategies to achieve emissions reduction and carbon neutrality at a conference organized by the Southern Weekly newspaper in China.

1st in the industry and among the 50 most environmentally responsible companies.

In addition, we rose seven positions from the 2022 ranking of most reputable companies.

1st place in the Innovation in Business Processes category. We were the only finalist in all categories of the awards held by the Brazilian National Industry Confederation (CNI, in Portuguese).

Best Company in Brazil in 2023 in the Época Negócios 360º Award. We were also the winners

in the Paper and Pulp, and Financial Performance

AWARDS AND RECOGNITION

ECOVADIS MEDAL	REPORTING MATTERS BRASIL

GLOBAL OPEN INNOVATION TOP 50

categories.

Of the

65 awards we received in 2023- almost twice the number we had in 2022-thefollowing stand out:

Platinum medal from EcoVadis, one of the world's most trusted business sustainability rating.

ENVIRONMENTAL FINANCE SUSTAINABLE COMPANY AWARDS

1st place in the Sustainable Company Awards in the Large Global Enterprise of the Year category, from Environmental Finance.

Our 2022 Sustainability Report was recognized as one of the top 10 reports of the year and a best practice in the Easy Access category, according to CEBDS's Reporting Matters Brazil methodology.

We received the Blue Whale 50 - 2023 Most Innovative Large Enterprise award, in Shanghai, China.

MOST INNOVATIVE

COMPANIES IN BRAZIL

We were named one of the most innovative companies in Brazil in the special report 2023 Innovation.

The complete list of awards can be found on the Suzano website.

Suzano Sustainability Report 2023

10