SUZ · Suzano S.A.

Summary

Suzano S.A. discloses net debt target of US$11.0 billion and leverage below 2.5x for 2027-2028, plus pulp cash production cost guidance for 2Q26 and full-year 2026.

Key takeaways

• Net debt target: US$11.0 billion, leverage below 2.5x (Net Debt/Adjusted EBITDA) over FY2027-2028.
• Pulp cash production cost for 2Q26: R$830-840/tonne (3-5% increase vs 1Q26), excluding maintenance.
• Full-year 2026 pulp cash cost estimate: ~R$800/tonne.
• Assumptions: USD/BRL R$5.17 (2026), R$5.25 (2027), R$5.28 (2028); Brent US$87/bbl (2Q26), US$84/bbl (2026).
• Reference Form item 3 to be updated per CVM Resolution 80/22.
• Estimates are forward-looking, subject to risks and uncertainties.