New quarterly EBITDA record contributes for highest EBITDA in history in 2021

Suzano S.A. (B3: SUZB3 | NYSE: SUZ), one of the world’s largest integrated pulp and paper producers, announces today its consolidated results for the 4th quarter of 2021 (4Q21).

HIGHLIGHTS
• Pulp sales of 2,722 thousand tons (+2% vs. 4Q20).
• Paper sales of 371 thousand tons (+5% vs. 4Q20).
• Adjusted EBITDA1 and Operating cash generation²: R$6.4 billion and R$4.8 billion, respectively.
• Adjusted EBITDA1 /ton from pulp of R$2,114/ton (+59% vs. 4Q20).
• Adjusted EBITDA1 /ton3 from paper of R$1,619/ton (+32% vs. 4Q20).
• Average net pulp price in export market: US$630/ton (+38% vs. 4Q20).
• Average net paper price3 of R$5,109/ton (+24% vs. 4Q20).
• Pulp cash cost ex-downtime of R$747/ton (+20% vs. 4Q20).
• Leverage down to 2.4 times in USD and 2.5 times in BRL.

The year 2021 presented the best results in our history, marked by important advances in our strategy. In a context of logistical restrictions in global chains and low availability of pulp in the market, the significant recovery in pulp prices and the strong sales volume were characteristic throughout the year, which supported a 59% growth in the EBITDA of this segment in 2021, despite pressure on the cash cost of production, largely affected by the global rise in commodity prices. In the paper segment, EBITDA was a record, driven by operational performance and a significant improvement in the business environment, despite higher costs.

With regard to financial management, throughout 2021 the Company reduced its net debt in USD by 15% and concluded the post-merger deleveraging cycle, ending the year with leverage of 2.4x in USD, measured by net debt/Adjusted EBITDA for the last twelve months. The significant drop in indebtedness associated with the increase in the liquidity position further strengthens Suzano’s solid balance sheet for the new investment cycle related to the Cerrado Project, approved by the Board of Directors in October. The new plant will have a nominal capacity of 2.55 million tons, with an estimated start-up in the second half of 2024.
details at: https://s1.q4cdn.com/987436133/files/doc_downloads/2022/02/Divulga%C3%A7%C3%A3o/Release/Release-de-Resultados_4T21_ENG_CVM_vFINAL_clean-Green-EN-US.pdf

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